Your company serves as The blah, Inc.s auditors. In performing a comprehensive audit at the end of 2022, you discover that has not recorded pension assets, liabilities, and expense appropriately. The net present value of the pension assets was $15.5 million. The vested pension benefit obligation was $12.9 million, and the projected benefit obligation was $17.4 million. You reported this audit finding to the Blah controller. A few days later, the controller called you for your advice on what to do. She started the conversion asking if they could terminate some of the nonvested employees before the end of the year. Wouldnt that reduce the negative impact on our net income?

This is a defined benefit pension plan .

Required:

-Reporting requirements and potential violations per FASB.\

-Ethical Concerns