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Assume that a CPA has an opportunity to bid on a new audit client. The...

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Accounting

Assume that a CPA has an opportunity to bid on a new audit client. The accounting firm is being considered because the CPAs best friend from college is the CFO of the potential client. Apply the conceptual framework for members in public practice to this situation. Explain any threats involved and whether any safeguards can be applied to reduce the threat to an acceptable level.

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