Auditing And Assurance Services
Auditing And Assurance Services
17th Edition
ISBN: 9780134897431
Author: ARENS, Alvin A.
Publisher: PEARSON
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Chapter 13, Problem 35DQP

(a).

To determine

Determine the problem of GM products that led to underlying accounting issue investigated by the SEC.

(b).

To determine

Determine the accounting standards guidelines related to recognition and disclosure of a loss contingency that is summarised by the SEC.

(c).

To determine

Determine the two approaches used by GM to accrue estimated losses related to product recalls.

(d).

To determine

Determine the breakdown in internal control that triggered the failure to adequately disclose the vehicle recalls.

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