Question
Classify each of the following threats as either; self-interest, self-review, advocacy, familiarity or intimidation. a. The CEO threatens to change auditors unless an unqualified opinion
Classify each of the following threats as either; self-interest, self-review, advocacy, familiarity or intimidation. a. The CEO threatens to change auditors unless an unqualified opinion is issued b. Each member of the audit team received a holiday cruise as a gift from the client c. The audit partner owns a significant amount of shares in the client company d. The audit partner is the brother-in-law of the client companys director e. The audit firm is promoting a new issue of shares from the client company f. The audit firm is acting as an advocate on behalf of the client in a dispute with a third party g. Management is pressuring the firm to reduce its audit hours in order to reduce the fees h. The audit partner has been approached about becoming a board member with the client company next year i. A member of the audit team was recently a director of the client company j. The audit must cover an inventory valuation system which was implemented by the audit firm after last years audit
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