Which firm of independent auditors must establish

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Problem 1: A firm of independent auditors must establish and follow explicit quality control policies and procedures because these standards:

Select one:

Option 1: are necessary to meet increasing requirements of auditors' liability insurers

Option 2: are required by the Australian Securities and Investments Commission for auditors of all entities

Option 3: include formal filing of records of such policies and procedures

Option 4: give reasonable assurance that the firm as a whole will conform to the auditing standards

Reference no: EM132736904

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