Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1. Silk Textile Stock Corporation is subject to independent audit. Sworn-in public accountant Demet who had worked as a manager for last two years for
1. Silk Textile Stock Corporation is subject to independent audit. Sworn-in public accountant Demet who had worked as a manager for last two years for this company is elected as auditor. Is it legal? Explain. 2. A, B and C are partners of a Stock Corporation which is established 5 years ago. This company is subject to independent audit. In general assembly, sworn-in public accountant D is elected as auditor. A with 20% of shares made an objection to this election. His objection is based on the reasons of untrustworthy character of auditor and auditor's family problems. A thinks that he will not be able to audit company in an impartial manner. In this case, how can A make the auditor be removed from the Office? If he had 1% share will your answer change? Explain. 3. Mervan Transportation Stock Corporation is subject to independent audit. A is the auditor. In the reports he discovered some corruptions and in the audit report he issues adverse opinion. What are the legal consequences? If he issues a disclaimer of opinion, what will be the legal results? 4. A, who is a shareholder with 12% of the capital, wants to discuss the new investment decisions of the company in general assembly. The agenda was sent to him, but he sees that this topic is not on the agenda. Can he add this item to agenda, how? 5. Is it possible to postpone of general assembly meeting if there are some doubts related to financial statements? 6. Shareholder A will not be able to join general assembly meeting and s/he wants her lawyer to join the meeting. Is it possible, how? If in the articles of corporation it is required that representatives must be appointed among shareholders, will your answer change? 7. After 1 month later of the ordinary GA meeting, Shareholder A wants to inspect the commercial books of the company related to a tender, assume that you are working in finance department of this company, do you have to give the related documents to this shareholder? 8. Assume that general assembly does not meet for three years. What are the legal consequences? 9. In which circumstances a shareholder can request a special auditor? Explain shortly. 10. In general assembly, balance sheet had been approved. 2 weeks later, partner A files a lawsuit for liability and claims that board of director members give damage to company by their wrong strategic plans. a. In this case, is discharge adopted? Explain. b. Assume that discharge is adopted, how can a partner file a liability suit even though discharge is taken by general assembly
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started