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Unformatted text preview: Audit Reporting Problem The CPA is examining the financial statements that are to be included in the annual report to the stockholders of Elm Corporation, a regulated company. Elm Corporation's financial statements are prepared as prescribed by a regulatory agency of the United States government, and some items are not presented in accordance with generally accepted accounting principles. The amounts involved are material and are adequately disclosed in footnotes to the financial statements....
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- Fall '08
- Accounting, Auditor's report, Elm Corporation