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... ed on what the higher management of the company told them, and they are honest and upfront with them.


Suppose auditors audit a company based on what the higher management of that company says. Why do we still need auditors? This obvious accounting fraud will be discovered immediately if another audit firm does the audit. Arthur Andersen claims to be one of the world’s top audit firms, yet they did not discover the fraud!?


Many people believed that Arthur Andersen knew wha ...

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