Because of audit risk, some CPA firms now refuse any new clients in certain high-risk industries.

Name: Because of audit risk, some CPA firms now refuse any new clients in certain high-risk industries.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

CPA firms may refuse new clients in certain high-risk industries due to the increased likelihood of material misstatements or fraud, which increases their audit risk. By limiting their client base to lower-risk industries, they can reduce their exposure to these risks.

Because of Audit Risk, Some CPA Firms Now Refuse Any