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When a CPA firm concludes that threats to independence relating to the audit of a nonpublic company are not at an acceptable level due to
When a CPA firm concludes that threats to independence relating to the audit of a nonpublic company are not at an acceptable level due to unpaid fees, the CPA firm ordinarily should:
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Follow the conceptual framework for independence and attempt to apply appropriate safeguards.
Insist that fees be paid immediately and then commence with the audit.
Issue a disclaimer of opinion.
Resign the engagement.
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