Question: Consider the round-trip transactions recorded by Time Warner described in the chapter. a. Describe how the company committed fraud. b. What type of fraud did

Consider the “round-trip” transactions recorded by Time Warner described in the chapter.
a. Describe how the company committed fraud.
b. What type of fraud did it commit?
c. What was the auditor’s responsibility regarding this fraud?
d. Evaluate the quality of information that outsiders received in 2000 and 2001 for Time Warner.

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