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Jamie is auditing the financial statements of HSBB Company. His son, age 15 owns 50...

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Accounting

Jamie is auditing the financial statements of HSBB Company. His son, age 15 owns 50 shares of the 100,000shares of HSBB Company common stock outstanding at the Statement of Financial Position. Discuss the effect, if any, the son's stock ownership would have on the auditor's opinion. Additionally, discuss how Jamie could manage the above matter effectively.

a)Discuss the effect, if any, the son's stock ownership would have on the auditor's opinion (25 marks)

b) Discuss how Jamie could manage the above matter effectively (10 marks)

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