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Incorrect. This became a common practice among the big CPA firms for liability reasons. Only workpapers of continuing audit significance were made available to successor auditors. This will not.prevent the audit from being accepted.

Which of the following would prevent an auditor from accepting a new engagement?

The client's accounting manager left shortly before year$-$end.

The client changed from FIFO to LIFO accounting for inventory purposes during the audit year.

The client's financial statements are presented on the cash basis.

The predecessor auditor is allowing access to only certain workpapers.