1. Consider the following statement and explain the relationship between legal compliance on a global level and ethical responsibilities of accountants and auditors: “Ethical values and legal principles are usually closely related, but ethical obligations typically exceed legal duties.”.2. Read (22) Auditor IndependenceHow is auditor independence threatened when auditors accept jobs with former audit clients?How might auditors’ performance of management advisory services erode their perceived independence? How might management advisory services improve audit quality and efficiency?One of the problems of independence towering over the auditing profession is the fact that auditor are hired and paid by their clients. Describe some solutions to this issue and how you would handle this conflict of interest inherent in the relationship
