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Jones & Jones, LLC is the independent auditor for Jenna Co. Jenna Co. has requested the firm's assistance with its payroll processing function. Jones & Jones is being asked to perform this service while continuing to serve as Jenna Co.'s auditor.
Problem a) Can Jones & Jones perform this nonattest service?
Problem b) What considerations should the firm's management keep in mind when accepting and performing this service?
What is the diffefence between Revaluation Decrement and Impairment Loss? What are the effects of Revaluation Model on the financial statements?
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