A new research paper documents several tactics management employs to inflate its fair value measurements based on in-depth interviews of Norwegian audit partners and company valuation specialists. The paper also provides evidence on how audit teams interact with company specialists and how company specialists view the work of auditors and auditor specialists. “The findings indicate that auditors’ lack of valuation knowledge and auditor specialists’ lack of asset-specific expertise lead to deficiencies in their understanding of how assumptions used in FVMs are interrelated and result in auditors focusing on the minutia of the individual assumptions at the expense of a ‘big picture’ view,” the paper states.