In auditing very often you do not know if the audit company is charging the correct amount to complete a financial audit. And, depending on the companys reputation and prestige they will start charging more and more money. The issue is how much money a governmental organization is willing to pay for an annual audit. Could you please research and explain the reasons you say that this is not a prudent choice? Would it be prudent for you to pay the highest amount? Before you answer these questions, what are the requirements that audit companies need to meet and to comply with before even bidding on the annual audit? Be specific in providing your explanation with examples.
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