Power (Pty) Ltd ("Power"), is a large manufacturer and supplier of solar batteries operating in...
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Accounting
Power (Pty) Ltd ("Power"), is a large manufacturer and supplier of solar batteries operating in Southern Africa. The board considers sound corporate governance to be important and wishes to follow the recommendations of King IV. In view of this, it has decided to appoint an audit committee as the company is required to have its annual financial statements externally audited by virtue of its public interest score. The list of senior executives and officers of Power is as follows: 1. Ms Amy: 2. Mr Vicky: 3. Ms Ellisa Kekai: 4. Ms Smith: 5. Mrs Miranda: 6. Ms Milly More: 7. Mr Livhoyi: 8. Mr Sibuya: 9. Mr Tshilidzi: 10. Ms Matlala: 11. Ms Alie Maluleka: 12. Mr Martain Gibs: 13. Mr Nana Mfundoa: Chairperson and non-executive director of Power. Deputy chairperson and chief executive officer of Power. Financial director of Power, holding a BCom degree. Human resource director, with a limited understanding of IFRS, integrated reporting and internal controls. Production director, with a limited understanding of IFRS, integrated reporting and internal controls. Marketing director and a CA(SA). Ms More has a sound knowledge and understanding of integrated reporting and related processes and controls as she has maintained her interest in accounting. Non-executive director who was the former production manager at Power. Company secretary and not a director of Power Chief audit executive who is a CA(SA) and not a director of Power. Independent non-executive director of Power practising as a CA(SA) and registered auditor (RA). Independent non-executive director of Power and fashion editor of a local magazine. Independent non-executive director of Power and chairperson of his own toy company Playme (Pty) Ltd. Independent non-executive director of Power and retired as a businessman five years ago. Required: Indicate whether each of the above individuals is eligible for appointment to Power's audit committee if the company is to adhere to the highest standards of corporate governance, and provide reasons for your answer. NB Provide all possible reasons for your
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You can see the logs in the Dashboard.