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1) Assuming a single audit is required, explain how that would impact the fee that the...

1) Assuming a single audit is required, explain how that would impact the fee that the CPA should charge for the audit.

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Answer #1

An audit is the examination of an entity's accounting records, as well as the physical inspection of its assets. If performed by a certified public accountant (CPA), the CPA can express an opinion on the fairness of the entity's financial statements.

Negotiating with Audit and Accounting Firms When Value Matters

  1. Find ways to lower the cost to the accounting firm providing service to you. ...
  2. Negotiate rates and hours, not just total fee level. ...
  3. Look for low-cost things you can do to give value to the accounting firm. ...
  4. Look for low-cost things they can do to for you.
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