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Obtain a copy of Accounting and Auditing Enforcement Release (AAER) No. 3146, issued by the SEC on June 24, 2010.
a. Identify the audit evidence deficiencies described in the release.
b. In what ways did the auditor fail to exhibit professional skepticism?
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c. What sanction did the auditor receive? Does that sanction seem appropriate?
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.
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