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An international news agency discovered the auditor independence infractions committed by EY. Does this fact suggest...

An international news agency discovered the auditor independence infractions committed by EY. Does this fact suggest that regulatory enforcement within us financial US financial reporting domain is lax? defend your answer

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Expert Solution

An International----------------domain is lax?

Audit
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Audits are the fundamental building blocks of effective capital markets. EY auditors use their knowledge, skills and experience to deliver high-quality audits with independence, integrity, objectivity and professional skepticism. In doing so, they help to support sustainable, long-term value creation.

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External auditors are responsible for auditing the company's financial statements and providing reasonable assurance that they are presented fairly and in conformity with GAAP and that they reflect true representation of the company's financial position and results of operations.


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