Which statement best describes why the SEC independence rules prohibit auditors from performing bookkeeping services?
1) Auditors may become too involved in the financial operations of the company.
2) Auditors may have a conflict of interest if they are responsible for both auditing and bookkeeping.
3) Auditors may not have the necessary skills and expertise to perform bookkeeping services.
4) Auditors may be biased in their financial reporting if they are also responsible for bookkeeping.