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1. Describe the reasons a naïve observer would consider itoverkill to scrutinize a company’s financial statements for signsthat management is presenting anything less than a candidpicture?2. How does that method of accounting for a merger oracquisition affect the combined companies’ subsequent competitivestrength, ability to generate cash, or reported earnings; and whatare the clues that there may be something amiss in an M&A?3. a) Explain the tension that exists for the auditing firm? (b)What can be said about the existing provisions for issuingfinancial accounting standards?
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