Examlex
Which of the following is NOT one of the three steps your text lists as critical in adherence?
Scienter
A legal term referring to the knowledge of wrongdoing, particularly the party's intent to deceive or act fraudulently in securities law.
GAAS
Generally Accepted Auditing Standards; guidelines for auditors in the conduct of financial audits.
GAAP
Stands for Generally Accepted Accounting Principles, which are a collection of commonly-followed accounting rules and standards for financial reporting.
Abusive Tax Shelter
Investment schemes that are designed primarily to evade taxes, often by exploiting legal loopholes.
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