Sarah Mayson is the newly appointed CEO for the Highlands Community League (Highlands). After two months...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Sarah Mayson is the newly appointed CEO for the Highlands Community League (Highlands). After two months on the job, Highland's board chairperson (chair) resigned, and Sarah was appointed as chair in her place. Before taking her role at Highlands, Sarah was the COO at Magellan Inc. (Magellan) for 15 years. Magellan engaged your firm, Dewey, Cheetham, and Howe, Chartered Professional Accountants, to perform Magellan's annual audits. Joe Dewey has sent you, a CPA in training, the following email Dear CPA-in-training: Sarah Mayson is a long-time client and friend of mine. She has sent me her notes from her second Highlands Board of Directors meeting (her first as chair). Here are Sarah's notes: Highlands currently has 10 directors on its board, including me. Each director represents one of the neighbourhoods in the Highlands Community District. Whenever a director moves or quits their appointment, they are replaced with a member from the same neighbourhood. Before the former board chair left, she mentioned that whenever there is a special project board meeting, whether it is a fundraiser or meeting to discuss bylaw infractions the whole board is required to meet. Often there are board members that attend but do not participate, particularly if they are not involved in the project or are unaffected by the bylaws violations. Overall, our board overall is great, with each member contributing in their own way, but these large meetings can be a drain. I recently saw the agenda for next month's meeting. It includes a line item to discuss the compensation for senior executives. When I accepted the role as Highland's CEO, I took a 20% pay cut, and I am looking forward to bringing up appropriate compensation at next month's board meeting. Based on this information, please respond to Sarah and advise her of the strengths and weaknesses of Highland's current governance structure. Regards, J. Dewey Required: Prepare a memo for Sarah that addresses the strengths and weaknesses of Highland's governance structure. For each strength, clearly explain why it is a strength. For each weakness, clearly state why it is a weakness. Include recommendations to address the weaknesses identified. Sarah Mayson is the newly appointed CEO for the Highlands Community League (Highlands). After two months on the job, Highland's board chairperson (chair) resigned, and Sarah was appointed as chair in her place. Before taking her role at Highlands, Sarah was the COO at Magellan Inc. (Magellan) for 15 years. Magellan engaged your firm, Dewey, Cheetham, and Howe, Chartered Professional Accountants, to perform Magellan's annual audits. Joe Dewey has sent you, a CPA in training, the following email Dear CPA-in-training: Sarah Mayson is a long-time client and friend of mine. She has sent me her notes from her second Highlands Board of Directors meeting (her first as chair). Here are Sarah's notes: Highlands currently has 10 directors on its board, including me. Each director represents one of the neighbourhoods in the Highlands Community District. Whenever a director moves or quits their appointment, they are replaced with a member from the same neighbourhood. Before the former board chair left, she mentioned that whenever there is a special project board meeting, whether it is a fundraiser or meeting to discuss bylaw infractions the whole board is required to meet. Often there are board members that attend but do not participate, particularly if they are not involved in the project or are unaffected by the bylaws violations. Overall, our board overall is great, with each member contributing in their own way, but these large meetings can be a drain. I recently saw the agenda for next month's meeting. It includes a line item to discuss the compensation for senior executives. When I accepted the role as Highland's CEO, I took a 20% pay cut, and I am looking forward to bringing up appropriate compensation at next month's board meeting. Based on this information, please respond to Sarah and advise her of the strengths and weaknesses of Highland's current governance structure. Regards, J. Dewey Required: Prepare a memo for Sarah that addresses the strengths and weaknesses of Highland's governance structure. For each strength, clearly explain why it is a strength. For each weakness, clearly state why it is a weakness. Include recommendations to address the weaknesses identified.
Expert Answer:
Answer rating: 100% (QA)
MEMORANDUM To Sarah Mayson From Your Name Date Date Subject Strengths and Weaknesses of Highlands Governance Structure Dear Sarah I have reviewed the notes you provided from your second Highlands Boar... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
You are the Management Accountant of Drax. The entity prepares financial statements to 31 March each year. Earnings per share is regarded as a key performance indicator and the executive directors...
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
A deposit of $4000 is made into an account that earns 11% annual simple interest. How much additional money must be deposited into an account that pays 14% annual simple interest so that the total...
-
Making use of the formulation and the solution of the foregoing problem, find the magnitude of the force exerted by the charges bound on the surface of the dielectric on the point charge q.
-
Consider a system A consisting of subsystems Al and A2, for which WI = 1 X 1020 and W2 = 2 X 1020 what is the number of configurations available to the combined system? Also, compute the entropies 5,...
-
The summary statistics for a certain set of points are: n = 20, se = 4.65, (x x)2 = 118.26, and b1 = 1.62. Assume the conditions of the linear model hold. A 99% confidence interval for 1 will be...
-
In this exercise, you will complete the Property Tax application that you created in Exercise 3 in Chapter 2. a. Use Windows to copy the Tax Solution folder from the VB2017\Chap02 folder to the...
-
1. Explain how organizations can create team players. 2. What is social loafing? How can the management undermine the tendency of social loafing? 3. Distinguish between high-context and low-context...
-
The finance director for the City of Green Falls printed the General Fund Revenues and Appropriations Ledgers shown below for the year just ended. The beginning-of-the-year fund balance was $160,160....
-
Magda undertook the task of caring for Marc after Marc's father died. Marc was Magda's nephew. Shortly after Magda started caring for Marc, he was committed to the Central State Mental Hospital. Marc...
-
On January 1, a company issued 5%, 15-year bonds with a face amount of $80 million for $59,249,660 to yield 8%. Interest is paid semiannually. What was the interest expense at the effective interest...
-
Tyrone has already typed 100 words for an essay and can type 35 words per minute. Vanessa has already typed 120 words and can type 30 words per minute. In how many minutes will Tyrone and Vanessa...
-
The following information is provided for the first month of operations for Legal Services Inc.: Prepare a T-accounts to reflect the following business transaction: The Company provided legal...
-
A copper rod is 34.0 m on a winter day when the temperature is -5.0C (Linear expansion coefficient of copper 17 x 10-6/C). How long is the rod on a summer day when the temperature is 38.0C? Express...
-
Pricing Manager, District 6SW From: Vice President, Marketing Re: Strategic Pricing Decision Our (Time Warner's) only competitor is District 6SW currently provides bundled services at $84.95. We are...
-
The following credit sales are budgeted by Crane Electronics: January February March April May $123000 119000 134000 139000 141000 The company's past experience indicates that 45% of the accounts...
-
What types of questions can be answered by analyzing financial statements?
-
Ling and Morwong are small family-owned companies engaged in vegetable growing and distribution. The Spencer family owns the shares in Morwong and the Rokocoko family owns the shares in Ling. The...
-
1. Taub Co. and Laughlin Co. own 80% and 20%, respectively, of the common shares that carry voting rights at a general meeting of shareholders of Renwill Co. Taub sells one half of its interest to...
-
Ridgemont acquired 90% of the common shares of Gourmand on January 1, 2009, at a cost of $150,750. At that date the equity of Gourmand was: Share capital (100,000 shares) .....$100,000 Retained...
-
Consider a bivariate time series \(\boldsymbol{z}_{t}\), where \(z_{1 t}\) is the change in monthly U.S. treasury bills with maturity 3 months and \(z_{2 t}\) is the inflation rate, in percentage, of...
-
Consider the growth rates, in percentages, of the quarterly real GDP of United Kingdom, Canada, and the United States used in the chapter. Fit a VAR(4) model to the series, simplify the model by...
-
Consider the U.S. quarterly gross private saving (GPSAVE) and gross private domestic investment (GPDI) from first quarter of 1947 to the third quarter of 2012. The data are from the Federal Reserve...
Study smarter with the SolutionInn App