University of Phoenix
Dating back to 1929, television has been viewed all over the world by millions of families. The impact technology has on television is phenomenal. Viewers have watched programs as silhouettes, outlines, with no sound, or black and white. With time, technology brought direct broadcast satellite to television. New Corporations Fox Entertainment Group, launched DirecTV in 1994. This company provided direct broadcast satellite nationwide and around the world. In 1998, DirecTV Group attained United States Satellite Broadcasting for $1.83 billion. The two main functioning entities of the DirecTV Group are DirecTV United States and DirecTV Latin America. The DirecTV Group was traded on the New York Stock Exchange until December 3, 2003. The owners decided it was time to move to the NASDAQ Global Select Market. Converting to the NASDAQ was based on the cost of trading. The cost of trading on the NYSE was higher. The ticker symbol for DirecTV on the NASDAQ is DTV. In compliance with state and federal regulations DirecTV is required to have their financials audited on a yearly basis by an outside firm. The DirecTV Board of Directors is responsible for making sure that all records are kept for the yearly audits. They are responsible for: • Managing the company’s financial reporting
• The effectiveness of the DirecTV’s internal control of finance • Maintaining compliance with regulatory and legal requirements • The outside auditor’s aptitude and qualifications • The administration of their internal auditing activities The consulting firm of Deloitee and Touche is the auditing firm for the DirecTV Group. The consulting firms committee is responsible for auditing the: • Consolidated balance sheets of DirecTV Group Inc • Changes in stockholder’ equity and comprehensive income •...