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• Audit fees are normally high since auditors are highly qualified professionals hence small firms such as sole proprietorships may not afford their financial statements to be audited.
• The audit exercise interrupts the clients operations because client staff have to spend time in availing the required information to the auditors.
• Company secrets may leak to competitors since all company information is accessible to the auditors.
Wilfykil answered the question on April 11, 2019 at 06:13
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