Question: The problem with independence is that it is an intangible quality. Do you think that the IFAC Code and the FRC Ethical Standard have succeeded

The problem with ‘independence’ is that it is an intangible quality. Do you think that the IFAC Code and the FRC Ethical Standard have succeeded in making it less of a problem for the auditing profession? Discuss why perception of independence is as important as actual independence.

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Despite efforts by IFAC Code and the FRC Ethical Standard to bolster auditor independence achieving tangible objectivity continues to pose challenges ... View full answer

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