Question
59. Which of the following statements regarding auditors is FALSE? A. Most auditors have a longstanding relationship with their audit clients; this extended relationship and
59. Which of the following statements regarding auditors is FALSE?
A. Most auditors have a longstanding relationship with their audit clients; this extended relationship and the auditors' desire to keep the lucrative auditing fees makes auditors less willing to challenge management.
B. Most accounting firms have developed large and extremely profitable consulting divisions.
C. Auditing firms are supposed to ensure that a company's financial statements accurately reflect the financial state of the firm.
D. In the post Sarbanes-Oxley world, accounting firms are no longer allowed to offer both audit and non-audit services to the same firm.
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