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In the financial and auditing space, a number of literature and researches exist on the crucial role and obligation of external auditor in preventing and detecting corporate fraud. Some authors, who stand for investors and people having curiosity in enterprise, toughly consider that a company failure is ensuing from both negligence and even usually from a lack of know-how from auditors. So in different phrases, most business failure is because of an audit failure (Dixon, Woodhead and Sohliman, 2006). Multiples research much like the analysis stated above are holding the general study bay public belief unchanged, considering that auditors are primarily liable for any company monetary scandals. Thus, additional research over this concern is required with a purpose to bring an environment friendly approach to reply over this subject. Also this analysis might be focusing on the one role and responsibility of the exterior auditors, which is completely different from earlier paper on each exterior and internal auditors.
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