The Goodwill committee >In the US, a company is required to test goodwill annually for impairment. This means they need to value the company/assets acquired using standard methods (DCF/market approach, etc.).<
Of course, such decisions are left to the discretion of management and the totally independent external auditors hired by management.
"Take my word for it. This statement is 100% ACCURATE and trustworthy. I would stake my life on it."
"OK, Mr Ebbers, if you're willing to stake your life on the trustworthiness of your statements, then we have to believe you."
"Gentlemen, I expect to be doing a great deal more business with your firm in the future."
"Oh THANKYOU THANKYOU, Mr Ebbers."