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Discuss the Non Accounting Services That External Auditors Are No

question 76

Essay

Discuss the non accounting services that external auditors are no longer permitted to render to audit clients under SOX legislation.


Definitions:

Product Price

The cost at which a particular good or service is sold to customers.

Warranty Purchasers

Individuals or entities who buy a warranty, typically an agreement for repair or replacement of a product, should it fail within a specified period.

Adverse Selection

A situation in which asymmetric information leads to the selection of undesirable alternatives in transactions.

Pre-Contractually

Refers to activities, negotiations, or conditions that occur before the formal agreement or contract is signed.

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