auditing services needed by them and their investors. Clients "fired" by their auditors as a result of the client continuance decision may also be faced with a double jeopardy. That is, not only do they lose their auditors, but they also have to contend with suspicious investors who often interpret loss of auditors as a signal of "crooked accounting." The position paper by the Big Six firms included high technology, midsize companies, and private companies making initial public offerings as "high-risk" companies. Restricting auditing services to these companies, who are key sources of innovations and jobs, has detrimental effects for the economy as a whole.
Conspicuously missing from the discussion thus far are any notions of probabilistic processing or maximization. This is not an oversight. These notions have been found to be inadequate descriptors of auditors' decisions.
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