What Do Healy and Palepu Propose as a Remedy for the Auditing

question 46

Essay

What do Healy and Palepu propose as a remedy for the auditing process being reduced to a "complex checklist"?

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Definitions:

Preincorporation Subscriptions

Agreements by investors to purchase stock in a corporation that is yet to be formed.

Promoter

An individual or company that helps to raise capital, organize, and establish a corporation or project, often taking on both financial and legal responsibilities in the early stages.

Preliminary Steps

Initial actions or measures taken as preparation for a more significant process or project.

Doctrine

A principle or set of principles laid down by an authority as incontrovertibly true.