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Ask the Tutor ACCA AA
network firm
NOT subsidiary/associate relations as in shareholdings - an audit FIRM, like most LAW firms, are partnerships.
Network firm - A firm or entity that belongs to a network.
Network - A larger structure:
(a) That is aimed at co-operation; and
(b) That is clearly aimed at profit or cost sharing or shares
common ownership, control or management, common
quality control policies and procedures, common
business strategy, the use of a common brand-name,
or a significant part of professional resources.
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