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Define independence and professional skepticism

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The Sarbanes Oxley Act of 2002 was enacted as a reaction to the fraud perpetrated at Enron and the perceived lack of independence and professional skepticism of Anderson's auditors. Discuss the following:

Question 1: Define independence and professional skepticism.

Question 2: Why did regulators believe Anderson's auditors lacked these important professional characteristics?

Question 3: Briefly explain the main change to auditor services enacted by SOX. Why did regulators believe this change would improve auditor independence and professional skepticism?

Reference no: EM132875795

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