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(Auditing Principles & Procedures) Rana and Nada, a regional accounting firm is determining whether it...

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Accounting

(Auditing Principles & Procedures)

Rana and Nada, a regional accounting firm is determining whether it wants to accept a new client, Salah Photos. Salah Photos is currently a privately held photography studio operating 24 studios in several states, but the company's management is planning an Initial Public Offering in the near future. This is the company's first audit. What steps should Rana and Nada take in evaluating this new client?

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