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Sir, If the bank asks an audit firm to perform due diligence or any other assurance service on its client, then why would that be considered as a conflict of interest?
Thanks.
Maybe the audit firm does not want to risk the client’s bank taking adverse action against the client thus putting the client’s future in jeopardy
So there’s the temptation to be less than truly diligent when carrying out a due diligence exercise
OK?
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