(Answered) 1 bill novak is working on an audit of an igaap client in

Accounting

1. Bill Novak is working on an audit of an iGAAP client. In his review of the client's interim reports, he notes that the reports are prepared on a discrete basis. That is, each interim report is viewed as a distinct period. Is this acceptable under iGAAP? If so, explain how that treatment could affect comparisons to a U.S. GAAP company.

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