Suppose an accounting standard, which requires companies to report projections of earn ings two years in the
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Suppose an accounting standard, which requires companies to report projections of earn¬ ings two years in the future, is presently being considered by the FASB. The FASB is now receiving letters from interested parties. What kind of comments would you expect the FASB to receive from auditing firms? Do you believe that auditors would be willing to audit such projections? Why?
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