for the following senario, explain how the risk of material misstatement should be assessed and what effect that assessment will have on detection risk.

A) johnson inc., is a fast growing trucking company operating in the southeastern part of the united states. the company is publicly held, but ivan johnson and his son control 55% of the stock. Ivan johnson is chairman of the board and CEO. he persoanlly makes all major decisions with a little consultation with the board of directors. Most of the directors, however, are either members of the johnson family or long-standing friends. the board basically rubber-stamps ivan johnson's decisons.