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A CPA Firm May Decide Not to Continue Doing Audits

question 56

True/False

A CPA firm may decide not to continue doing audits for an existing audit client simply due to what the CPA firm deems to be excessive risk, alone, even if the audit engagement is very profitable to the CPA firm.


Definitions:

Credit Card Applications

Forms or online processes submitted by individuals seeking to obtain a credit card from a financial institution.

Local Area Networks

A network of connected devices in a specific geographical location, such as a home or office, that share resources and data.

Intranet

A private network accessible only by an organization's staff, often used to share information, operational systems, or computing services within the organization.

Wireless Local Networks

A type of computer network that uses wireless data connections between network nodes to allow devices to connect to the internet or exchange data wirelessly over a short distance.

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