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Compare and contrast the proposed standard IAASB 701 with SAS 115. Discuss what this new standard would mean from the auditors perspective. Research and prepare
Compare and contrast the proposed standard IAASB 701 with SAS 115. Discuss what this new standard would mean from the auditors perspective. Research and prepare an audit plan addressing all required components that highlights the information required to be presented in the new standard. (How would the auditor determine the information that needs to be disclosed?). Finally, please discuss whether or not adopting the new standard will be beneficial.
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