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L21 Notes_Part_14 - Collective aspect of...

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Economic Demand for Auditing Management Gov’t Agencies Opinion Privilege To Operate Return (Taxes) Audit Committee Stockholders Financial Statements CPA
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Rule 101 - Independence Is anyone here truly unbiased? Unique to public accounting and pertains only to the auditing part of the profession's services. GAAS No. 2 CPAs working for management, why one more CPA?
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Unformatted text preview: Collective aspect of independence (ramification to the entire profession) Some services should not be performed in an independent manner (taxes) Independence in collecting, evaluating and reporting on financial information. Business partners ------ Independent --- Adversarial...
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