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When a CPA firm has two audit clients that transact business with each other, should...

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Accounting

When a CPA firm has two audit clients that transact business with each other, should the two audit teams be allowed to share information regarding their clients, since such sharing of data might result in the auditors obtaining a more accurate picture of each clients financial condition? Discuss the advantages and disadvantages of amending the client confidentiality rule to allow communication between audit teams under such circumstances.

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