XYZ Restaurants Corp. has recently completed its annual external audit of financial records. The outside auditing firm employed to conduct this audit has presented the results to the company president and asked for her approval and signature on the document. However, the president is unsure of the results and is unwilling to attest to the results of the audit. In last month’s corporate board meeting, members openly demanded the resignation of the president on the grounds that she is holding up company progress through her actions. The board has also determined that, in its opinion, her signature is not needed on these documents Question How should the president respond?
XYZ Restaurants Corp. has recently completed its annual external audit of financial records. The outside auditing firm employed to conduct this audit has presented the results to the company president and asked for her approval and signature on the document. However, the president is unsure of the results and is unwilling to attest to the results of the audit. In last month’s corporate board meeting, members openly demanded the resignation of the president on the grounds that she is holding up company progress through her actions. The board has also determined that, in its opinion, her signature is not needed on these documents Question How should the president respond?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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3. Mini Case 3
XYZ Restaurants Corp. has recently completed its annual external audit of financial records. The outside auditing firm employed to conduct this audit has presented the results to the company president and asked for her approval and signature on the document. However, the president is unsure of the results and is unwilling to attest to the results of the audit. In last month’s corporate board meeting, members openly demanded the resignation of the president on the grounds that she is holding up company progress through her actions. The board has also determined that, in its opinion, her signature is not needed on these documents
Question How should the president respond?
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