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Auditing and assurance-specialized industries

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Reference no: EM133246971

Can anyone explain in layman's term the following?

Subject: Auditing and Assurance: Specialized Industries

1. Auditing

2. Assurance

3. Why Specialized Industries need Auditing and Assurance?

4. Why Level of Assurance is important? (Reasonable Assurance and Limited Assurance)

5. Why competence, audit planning and reliance on experts are important in Audit?

6. Downside of Reliance on Experts

Reference no: EM133246971

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