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Part 2
Does Taylor have a responsibility to report the fraud?
If so, to whom should she report the fraud?
Assuming that the fraud has been continuing for several years, what would be the
tax ramifications to the executives of not reporting earnings on their tax returns?
Even through the money is from illegal sources, are the executives required to report
the income on their yearly tax returns?
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AC 465 Unit 5 Assignment Exercises
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Exercise 7-2 Generally, how is the problem of management override and collusion
addressed?
Exercise 7-3 What is the “expectations gap”?
Exercise 7-5 How is materiality determined?