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Brapbrap Brapbrap
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6 years ago
Why did the independent review focus on the establishment and release of contractual liability and other related provisions (also called accruals, reserves, or accrued liabilities)?
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6 years ago
The legal review mandated by the audit committee expected to verify the company's liability restatement of 900M. The audit committee wanted to gain understanding of the events that caused significant excess liabilities to be maintained on the balance sheet. These contractual liabilities were a result of previous years' provisioning process, based on judgments made of the company's obligations.
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