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As indicated in the case, one of the partners ni another firm of the 'Allstars' network has invested in a venture capital fund that owns
As indicated in the case, one of the partners ni another firm of the 'Allstars' network has invested in a venture capital fund that owns shares of Airlines Equity. Does this fact violate the auditor's independence? Discuss why or why not, and consider theconsequences.Your team has to make a recommendation to the managing partner as to whether Europestars should accept the audit engagement of the Airlines Company. What would you recommend? Include consideration of reasons both for and against acceptance and use both financial and nonfinancial information to justify your recommendation.
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