Recognition of revenue for iru swaps for fiber optic assets

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Reference no: EM13793468

Describe why the recognition of revenue for IRU swaps for fiber optic assets that were not actually needed by Qwest was inappropriate under GAAP.

Next, consult Paragraphs 7–8 of PCAOB Auditing Standard No. 15. As an auditor, what type of evidence would allow you to determine whether such recognition of revenue would be appropriate under GAAP?

Reference no: EM13793468

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