Question: Bill Novak is working on an audit of a U S
Bill Novak is working on an audit of a U.S. GAAP client. In his review of the client’s interim reports, he notes that the reports are prepared on an integral basis. That is, each interim report is viewed as a part of the annual period. Is this acceptable under U.S. GAAP? If so, explain how that treatment could affect comparisons to an IFRS company.
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