Accounting quality is an integral part of HD Faculty™'s business affairs; therefore, from time to time, the Chief Financial Officer is required to ensure that the prevailing account policies employed do not overstate nor understate HDs financial performance and position. The Chief Financial Officer is required to ensure that the Internal Auditor(s) accurately disclose all data, where applicable, in respect to: |
(a) |
inventory evaluation methods; |
(c) |
goodwill and intangible assets; |
(d) |
treatment of extraordinary items; |
(h) |
non-consolidation subsidiaries; |
(i) |
healthcare and pension obligations (method of accounting; funding of pension liabilities; pension plan assumptions, severance indemnities); |
(j) |
undervalued assets, such as last-in-first-out (LIFO) reserve; |
(l) |
off-balance obligations, debt/equity hybrid instruments; and |
(m) |
translation of foreign currencies. |