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have when a client develops an important new accounting policy? Comment on an audit firm's responsibilities during and following that process. 6. The Repo 105

have when a client develops an important new accounting policy? Comment on an audit firm's responsibilities during and following that process. 6. The Repo 105 transactions reduced Lehman's net leverage ratio from 17.8 to 16.1 at the end of fiscal 2007. Do you believe that was a "material difference"? Why or why not

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