Value of the annual audit of books

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Reference no: EM1354383

Plain Truth Adverting employs KPR, a large accounting firm, to audit its books each year. This involves considerable expense for the advertising firm, since sales account managers are very independent and maintain separate record keeping systems. Should the CEO of Plain Truth cancel the audit and rely on a brief year-end summary from each sales account manager? Why?

Reference no: EM1354383

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