Factory considered essential for the audit of a company
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Explanation:
The factors considered essential for the audit of a company are:
1. Level of assessing and controlling risk
2. Internal and external regulatory processes
3. The cost of capital
4. Quantum and size of various operations
5.Complexity of operations
The audit of a company includes the appointment of a suitable auditor, duties of the auditor, generating the audit report for the company and restriction on statutory auditors.
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