The controller of a small utility company has interviewed audit firms proposing to perform the annual audit of their employee benefit plan. According to the guidelines of the Department of Labor (DOL), the selected auditor must be A. The firm that proposes the lowest fee for the work required. B. Independent for purposes of examining financial information required to be filed annually with the DOL. C. Included on the list of firms approved by the DOL. D. Independent of the utility company and NOT relying on its services.

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The detailed answer for the above question is provided below C Included on the list of fi... View the full answer