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What parties rely upon audit and affected by the arrangement

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Question 1: Cindy works at Local Accounting Company and hopes to one day become a partner there. She is invited by a prospective client (Fast Company) to prepare a bid to audit their financial statements. In discussing the fee, Fast Co suggests the audit fee be based upon Fast Company's profit. What parties rely upon the audit and could be affected by this arrangement? Should Cindy accept this arrangement? Explain your answer.

Reference no: EM132546211

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