Fair value guidance suggests that there may be three levels of evidence available to assess fair value.
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The FASB has set a hierarchy of inputs to consider in assessing fair value i Level 1 is quoted price...View the full answer
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Auditing a risk based approach to conducting a quality audit
ISBN: 978-1133939153
9th edition
Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg
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