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This article discusses the impact of asymmetric information on external auditing and its consequences.

Discussion of External Audit and Asymmetric Information.

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Discussion examines the role of asymmetric information in external auditing and its implications for auditors and investors.

This article discusses the impact of asymmetric information on external auditing and its consequences.
Analysis of the relationship between asymmetric information and auditing institutions.
Consideration of the moral hazard issues faced by auditors.
Review of legal and ethical implications in auditing processes.
Identified the role of information asymmetries in creating auditing institutions.
Highlighted the moral hazard problem between auditors and investors.
Explored the demand for peer review systems to enhance auditor accountability.

Dan A. Simunic (1990) studied this question.

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