Do you believe that Deloitte behaved properly by accepting GM’s decision to apply a 6.75 percent discount rate to its pension liabilities? What, if any, other steps or measures should Deloitte have taken under the circumstances?
Answer to relevant QuestionsDid the choice of the 6.75 percent discount rate in 2002 have a material impact on GM’s financial statements? Defend your answer.Most of Judge Lifland’s criticism of E&Y focused on the firm’s audit procedures for CBI’s accounts payable. Generally, what is the primary audit objective for accounts payable? Do you believe that E&Y’s two principal ...Under what circumstances must audit procedures be applied to supplemental information accompanying a client’s financial statements? Describe the responsibilities auditors have when auditing such information.U.S. auditing standards identify the principal “management assertions” that underlie a set of financial statements. What management assertions were particularly relevant to? (a) The “sales” of working interests ...What internal control weaknesses were evident in the Dodgers’ payroll system?
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