Originally posted by Steven Santora@Sep 17 2003, 08:22 AM
Paul,
You early raised the point that one should understand this stuff. And now state that after nine years there are some who don't. I agree with that principle. In USPAP, that's called "competency."
I am 99%-100% sure I understand the material, but the material itself doesn't make sense. Yes, I am not confused, but the material is. Not everyone is suited to dealing with that type of stress, nor should they be.
For example, suppose there was a test and you saw this question:
Which of the three reporting options results in a report that contains the most information?
What is the answer?