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Help me able to understand for the response Craig Thorne works in a public accounting firm and hopes to eventually be a partner The management
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Craig Thorne works in a public accounting firm and hopes to eventually be a partner The management of Allnet Company invites Thorne to prepare a bid to audit Allnet's financial statements. In discussing the audit fee, Allnet's management suggests a fee range in which the amount depends on the reported profit of Allnet. The higher its profit, the higher will be the audit fee paid to Thorne's firm Be sure to include the following in your original response which should be at least three paragraphs with at least three sentences each: 1. Identify the parties potentially affected by this audit and the fee plan proposed 2. What are the ethical factors in this situation? Explain 3. Would you recommend that Thorne accept this audit fee arrangement? Why or why not? 4. Describe some ethical considerations guiding your recommendationStep by Step Solution
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