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A CPA's engagement letter for the audit of a privately owned bank includes an indemnification clause limiting the liability of the CPA in the event
A CPA's engagement letter for the audit of a privately owned bank includes an indemnification clause limiting the liability of the CPA in the event that losses occur due to a knowing misrepresentation of management. Would this impair the CPA's independence?
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Solution Yes including an indemnification clause in the engagement letter that limits the liability ...
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Auditing and Assurance services an integrated approach
Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley
14th Edition
133081605, 132575957, 9780133081602, 978-0132575959
