Question: What is the purpose of the threats and safeguard approach
What is the purpose of the threats and safeguard approach set forth in the AICPA’s Guide for Complying with Rules 102– 505?
Answer to relevant QuestionsDiscuss the benchmark that a forensic accountant should use when evaluating the significance of a threat.Can prospective data support the reasonable degree of professional certainty (more likely than not) threshold required in an expert’s opinion? Why or why not?Describe the asset approach and explain when it is an appropriate selection.Identify and discuss the eight valuation factors set forth in Rev. Rul. 59– 60 (Sec. 4).1. The book value method of determining value:a. Subtracts the market value of assets from the market value of liabilities b. Is the most commonly used valuation approach c. Subtracts the book value of liabilities from the ...
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