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Re audited numbers. In every set of accounts there is an element of discretion in, inter alia, accounting policies for revenue recognition, bad debts, amortisation. After a change in executive management (and you can expect the instiutional investors to be pushing for this) new management may review the old policies and apply new (more conservative) ones. This has the benefit of improving the "quality" of the reported numbers- but may lead to a short-term horror show.
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