Regulatory body main role is to oversight over the public interest activities from etting the standards to delivery and finally maintaining the system. Required: Explain the differences between regulatory bodies and professional bodies. Also,

Regulatory body main role is to oversight over the public interest activities from etting the standards to delivery and finally maintaining the system. Required: Explain the differences between regulatory bodies and professional bodies. Also,

Auditing: A Risk Based-Approach to Conducting a Quality Audit

10th Edition

ISBN:9781305080577

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter17: Other Services Provided By Audit Firms

Section: Chapter Questions

Problem 1TFQ

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Question

Regulatory body's main role is to oversight over the public interest activities from
setting the standards to delivery and finally maintaining the system.
Required:
Explain the differences between regulatory bodies and professional bodies. Also,
evaluate the roles of any two regulatory bodies and two professional bodies.

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