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Please explain about THE PROFESSIONS RESPONSE TO LEGAL LIABILITY below and give an example : 1. Research in auditing 2. Standard and rule setting 3.

Please explain about THE PROFESSIONS RESPONSE TO LEGAL LIABILITY below and give an example :

1. Research in auditing

2. Standard and rule setting

3. Set requirements to protect auditors

4. Establish peer review requirements

5. Oppose lawsuits

6. Education of users

7. Sanction members for improper conduct and performance

8. Lobby for changes in laws

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