Auditors told to be on their guard
The US audit watchdog has warned about “significant unusual transactions” in its latest update to US accounting firms.
The update, from the Public Company Accounting Oversight Board (PCAOB), comes in the wake of accusations US bank Lehman Brothers used repurchase transactions to hide bad debts from its balance sheet.
The update is designed highlight "new, emerging, or otherwise noteworthy circumstances".
See full Article.
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