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How can a company use valuation allowance accounts to manage their earnings? Do you agree with the investigation assessment that this was an accounting error
How can a company use valuation allowance accounts to manage their earnings?
Do you agree with the investigation assessment that this was an accounting error but not accounting fraud?
Is this really such a big deal since the error was reversed in the next quarter and the annual financial statements were not impacted? Do not forget to consider which stakeholders might be impacted by the error.
Who is at fault, the company, the auditor, or both?
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