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Audit Quality Drivers What Are the Primary Drivers of Audit

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Essay

Audit Quality Drivers What are the primary drivers of audit quality according to the Financial Reporting Council's (FRC)"The Audit Quality Framework?"


Definitions:

Abatement

A reduction, decrease, or complete removal, often in reference to taxes, rent, or nuisances.

Legatee

One designated in a will to receive a legacy (a gift of personal property).

General Bequest

A testamentary gift of a particular amount of money or a specific percentage of the estate, not tied to any particular asset.

Testator

A person who has made a will or given a legacy.

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