Response to the following questions:
1. Why is an auditor's independence so essential?
2. What organization is responsible for developing ethics standards at the international level? What are the fundamental principles of the international ethics standards?
3. Distinguish between independence of mind and independence in appearance. State three activities that may not affect independence of mind but are likely to affect independence in appearance
4. What consulting or nonaudit services are prohibited for auditors of public companies? What other restrictions and requirements apply to auditors when providing nonaudit services to public companies?