See AU Section 332 Auditing Derivative Instruments, hedging Activities and Investment in Securities.  * Every written instrument is by definition the memorialization of an event. Absent the event in the real world, the instrument is worthless at best and at worst fraudulent. This is derived from the my knowledge of generally accepted accounting principles (GAAP) […]

Tags: AICPA, discovery, FASB, foreclosure defense, gaap, sham transactions
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