"Audit Reports" Please respond to the following: In an economic downturn, assess whether you would expect more or fewer companies to receive a going-concern audit opinion. Provide your rationale. O

“Audit Reports” Please respond to the following:

In an economic downturn, assess whether you would expect more or fewer companies to receive a going-concern audit opinion. Provide your rationale.

Once a company has received a going-concern audit opinion, speculate to the likelihood that the company will remain in business. Support your answer with evidence or examples.

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