Auditing & Assurance Services: A Systematic Approach (Irwin Accounting)
Auditing & Assurance Services: A Systematic Approach (Irwin Accounting)
10th Edition
ISBN: 9780077732509
Author: William F Messier Jr, Steven M. Glover Associate Professor, Douglas F. Prawitt Associate Professor
Publisher: McGraw-Hill Education
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Chapter 1, Problem 1.2RQ
To determine

Concept Introduction:Auditing is an independent examination of financial statements. The set of financial statements includes balance sheet, income statement, statement of owner’s equity, and statement of cash flows. The audit is performed by an independent auditor.

To indicate:The reason of demand for auditing services in a free market economy.

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