Large accounting firm are often limited liability partnerships (LLPs) because of their audits are conducted in accordance with GAAS,
A) partners not on the engagement would not be liable on their personal assets.
B) improved quality control practices can be initiated using technical personnel.
C) more formal requirements are in place when reporting to federal tax authorities.
D) partners are liable for only a limited portion of their personal assets when sued.
Correct Answer:
Verified
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