Current Issues in External Auditing Macro & Microeconomics Coursework
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(1894 words)
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According to the stance of IFAC, third parties to the company such as creditors, bankers, other financial institutions, and investors make business decisions on the basis of the company’s annual audited report. Although audit work can ensure the authenticity of the company’s performance, it needs great care to maintain the quality of the process. The decline in audit quality reduces public confidence in companies.