Auditing standards prohibit the auditor from issuing a

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Auditing standards prohibit the auditor from issuing a report if not independent. An interresting situation can arise if a member of the audit team loses independence just before the report is issued...sometimes unintentionally such as a family member being employed by a client. Should the audit firm be punished for such actions by an employee? Is it fair? Are the rules regarding independence too strict?

Reference no: EM13585912

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