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2. Terms of reference 1 and 2 refer to: 1. The relationship between auditing and consulting services and potential conflicts of interests; and 2. Other

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2. Terms of reference 1 and 2 refer to: 1. The relationship between auditing and consulting services and potential conflicts of interests; and 2. Other potential conflicts of interest. a. With reference to positive accounting theory and agency theory as well as the submissions that are located in the assignment folder, explain why there are potential conflicts of interest with regards to auditing and consulting services. b. How did the submissions authored by EY, Deloitte and PWC respond to terms of reference 1 and 2

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