Question

Three forms of organization for public accountants are unlimited liability partnership, limited liability partnership, or limited liability professional corporation.

Required:
What are the pros and cons of each form from the perspective of public accountants in these firms and from the perspective of users of public accountants’ assurance reports? In particular, consider the implications of these different organizational forms for public accountants’ incentives to perform their functions with due care and with objectivity.



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  • CreatedJanuary 09, 2015
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