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Question - Read the Case Summary "HealthSouth- Can 5 CFO's Be Wrong?"
1. What are the proper audit procedures to ensure existence of assets in the financial statements? What are the proper audit procedures to validate estimates? (Cite authoritative sources only in response to this question).
2. What are the 7 signs of ethical collapse of a company and how did these signs appear at HealthSouth?
3. What were some of the major flaws in HealthSouth's corporate governance? (Make sure to define the term "corporate governance").
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