Question: Discuss the importance of auditor independence What factors contribute to

Discuss the importance of auditor independence. What factors contribute to an auditor being considered independent? How does the merger of the large accounting firms affect the concept of auditor independence? Consider antitrust laws in your answer. Do the large accounting firms have a monopoly on audits of publicly traded companies? Does Sarbanes-Oxley go too far in prohibiting nonaudit services from being provided by the audit firm?

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