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Audit independence can be achieved through several key practices, including maintaining a clear separation between auditing and consulting services within firms to prevent conflicts of interest. Auditors should also adhere to strict ethical guidelines and regulations that prohibit relationships or financial interests that could compromise their objectivity. Additionally, regular rotation of audit partners and firms can help ensure fresh perspectives and reduce familiarity threats. Finally, transparency in reporting and open communication with stakeholders can further reinforce the independence of the audit process.

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5d ago

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