Problem

Lehman’s net leverage ratio was not reported within the company’s audited financial stat...

Lehman’s net leverage ratio was not reported within the company’s audited financial statements but rather in the company’s financial highlights table and MD&A section of its annual report. What responsibility, if any, do auditors have to assess the material accuracy of financial data included in those two sections of a client’s annual report?

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Solutions For Problems in Chapter 1.2