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You think that Goldman Sachs, for example, had exactly 263,674,000,000.00 of cash and cash equivalents at the end of 2012? You don't think that's likely rounded

• rayiner 13y ago
  Auditing standards at large banks have a materiality threshold. At a Goldman or Morgan Stanley, that threshold approaches half a billion. But that's at the top layer, on top of many other layers of accounting. At the level of individual customer accounts, even small discrepancies would be caught.