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Unformatted text preview: about a companys financial position and if the company adheres to accounting standards. Audits are performed by auditors who are 1) employed by a third party and 2) must conduct themselves in a professional and unbiased manner. To what extent do you believe that user expectations of public accounting profession appear to you to be unwarranted? Explain. There are many users (IE: management, creditors, and investors) who view a companys financial data depending on their needs. Based on this, I do not believe that it is fair to assume that users expectations of the public accounting profession appear unwarranted. Different users have different needs, expectations, and interpret financial data according to their needs. This makes it unrealistic to expect that all users of a companys financial data will be viewed in the same way, with the same expectations....
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This note was uploaded on 04/07/2011 for the course ACCT 490 taught by Professor Richard during the Spring '11 term at DeVry Long Beach.
- Spring '11