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The ethical rules state that independence of the external audit firm is considered to be impaired if: the audit firm provides management advisory services to

The ethical rules state that independence of the external audit firm is considered to be impaired if:

  1. the audit firm provides management advisory services to the client.
  2. the audit partner purchases the client's product at normal retail prices.
  3. the audit firm has served as the external auditor for many years.
  4. an immediate relative of one of the partners is the beneficial owner of shares forming a material part of the share capital of the client.

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