Evaluate arguments in against allowing statutory auditors

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Reference no: EM132795861

The Companies Act 2006 repealed section 310 of the Companies Act 1985 (which imposed unlimited liability on statutory auditors), allowing statutory auditors to agree limitation of liability agreements with their clients.

problem 1: Evaluate the main arguments in favour and against allowing statutory auditors to limit their liability for statutory audits and state, giving reasons, whether it consider the Companies Act 1985 or Companies Act 2006 regime to be superior.

Reference no: EM132795861

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