re: Lehman Watch Thread

Not at all my friend. A review and an audit are subject to different levels of assurance. If you read p52 of the 10-Q, it should pretty well spell it out, it's just a template (like literally straight out my auditing book) that all firms use for a review assurance level, amongst the other various reports they might issue that are not audits. It really has to do with the limiting CPA liability as it is impossible/impractical to do an audit of each quarterly report.

ETA: Basically just trying to say that it is normal operating procedure, and does not necessarily indicate a "good" or "bad" thing. An audit is an opinion, in a review there is no opinion issued. Hope that cleared up what I was saying (they're still going down).