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PROPOSED NEW U.S. AUDITING STANDARD

In response from the outcry from the public, several countries have enacted a new Auditing Standard. The U.S. has also proposed a new standard.

1-What are the major components of the new U.S. Standard?

2-Do you think that the proposed Standard will be implemented? Explain why or why not.

3-If the new Auditing Standard was implemented, what impact will it have on the following parties:

a-The Financial Statement Users.

b-The Auditors.

c-The Companies Management.

d-The Standard setters and regulators.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92308933

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