What is a triggering event provide an example

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Reference no: EM133334479

Questions:

1. What is a triggering event? Provide an example of a triggering event.

2. In the current environment, as an auditor would you expect to see more triggering events? Why or why not?

3. As an auditor, describe how you might decide if your client has a triggering event concerning
goodwill or other intangible assets impairment. Assuming the client has a triggering event, what are some issues you would consider as you plan the audit?

4. FTX result in its filing for bankruptcy. Reminiscent of Enron, you can be sure one of questions will be, who/where were the auditors?

What are your preliminary thoughts about the bankruptcy of FTX?

Reference no: EM133334479

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