Within which step of the research process can listening skills be especially critical? Understanding the facts/background of the transaction Define the problem (i.e., identify the researchable question) Stop and think. Search for potentially relevant guidance. lustify and document your conclusion. An audit client is testing its goodwill for impairment and in doing so estimates a fair value for the reporting unit of $1 million. The audit team provides this estimate to its valuation specialists for review. As the valuation team reviews, they expect the value to be more or less consistent with the company's estimate. This is an example of: Select one: a. Escalation of commitment bias b. Hindsight bias c. Group think bias d. Confirmation bias After the housing market collapsed in 2008 , regulators reviewed major banks' credit reserves from just before the collapse and found the banks' Allowance for Credit Losses reserves to be inadequate. This finding could be an example of: Select one: a. hindsight bias b. Confirmation bias c. Group think bias d. Escalation of commitment bias e. Anchoring and adjustment bias