Audit 1 Q. 1 Khaled is the managing partner of a local CPA firm. Over...
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Audit 1 Q. 1 Khaled is the managing partner of a local CPA firm. Over lunch. 1K he is surprised when his friend Sanad asks him, "Doesn't it bother you that your clients don't look forward to seeing their auditors each year?" Khaled responds, "Well auditing is only one of several services we provide. Most of our work for clients does not involve financial statement audits, and our audit clients seem to like interacting with us." a. Identify ways in which a financial statement adds value for clients. b. list other services other than audits that CPA firm likely provides. C. Assume a CPA firm has hired you as a consultant to identify ways in whic hey can expand their practice. Identify at least one additional service that you believe the firm should provide and explain why you believe this represents a growth opportunity for CPA firms
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