Public Accounting Firms Have Consistently Looked for Additional Services That

question 6

Essay

Public accounting firms have consistently looked for additional services that might increase the profitability of the public accounting firm.To that end,CPAs can provide value to clients with assurance services.
Required:
A.Describe two of the services identified by the AICPA.
B.Why would the public prefer to have a public accounting firm as a provider of these services?
C.What are the possible negative consequences for public accounting firms if they provide services outside the realm of traditional accounting services?

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Definitions:

Cohesive Groups

Groups characterized by strong interpersonal bonds among members, leading to high levels of cooperation and team effectiveness.

Informal Groups

Unofficial and emerge from relationships and shared interests among members.

Formal Groups

Officially recognised and supported by the organisation.

Group Dynamics

The psychological processes involving interactions, behaviors, attitudes, and roles that occur within a group setting.