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AUDITING
Before dissolving itself on July 31, the Independence
Standards Board approves issuance, as a staff report, of a conceptual
framework for auditor independence. This theoretical structure focuses
on auditor independence as a means of improving the quality of
audits—and of expanding investors’ faith in financial statements—in
order to optimize the allocation of capital ( http://cpaindependence.org/upload/Staff+Report,+A+Conceptual+Framework
+for.doc
).
