Does a long-term relationship between an auditor and its client have the benefits claimed for it by the finance director or does it simply breed complacency? ●● Would rotation of audit partner have the same result as rotation of the audit firm in terms of an improved audit function and benefit to the shareholders and potential investors? ●● Does competition in the audit market for international clients improve the quality of audit or would it simply cause audit firms to cut costs and thereby reduce audit work in order to be competitive in bidding for work? ●● How can regulators ensure auditors remain independent of their clients and approach their audits with a suitably skeptical attitude when the directors they may have to challenge approve payment of the audit fee
Does a long-term relationship between an auditor and its client have the benefits claimed for it by the finance director or does it simply breed complacency?
●● Would rotation of audit partner have the same result as rotation of the audit firm in terms of an improved audit function and benefit to the shareholders and potential investors?
●● Does competition in the audit market for international clients improve the quality of audit or would it simply cause audit firms to cut costs and thereby reduce audit work in order to be competitive in bidding for work?
●● How can regulators ensure auditors remain independent of their clients and approach their audits with a suitably skeptical attitude when the directors they may have to challenge approve payment of the audit fee?
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