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Many CPAs have complained that lots of CEOs and CFOs consider audit service a "commodity". As...

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Accounting

Many CPAs have complained that lots of CEOs and CFOs consideraudit service a "commodity". As a result, corporate executivesdon't care much about the quality of audit service, and all theywant is clean opinion from any auditors at the lowest audit fee(opinion shopping). How would a CPA firm differentiate itself fromother firms when the firm is approached by a CFO shoppingopinion?

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CPA Firm has to standout their firm from other firms in the market so that client wont think about cost This can be done in following ways 1 Guarantee timeliness Financial information is useless unless its timely and reliable so guarantee accurate timely information to clients Make sure firm promote this aspect of service and how their staff stands by your work 2 Global Presence Firm should develop a global firm which has the presence across the globe because these days clients are looking for the firm which has presence globally so that can bank on    See Answer
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Transcribed Image Text

Many CPAs have complained that lots of CEOs and CFOs consideraudit service a "commodity". As a result, corporate executivesdon't care much about the quality of audit service, and all theywant is clean opinion from any auditors at the lowest audit fee(opinion shopping). How would a CPA firm differentiate itself fromother firms when the firm is approached by a CFO shoppingopinion?

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