In each of the three following situations, indicate whether the auditor has (1) a direct financial interest
Question:
In each of the three following situations, indicate whether the auditor has (1) a direct financial interest in his or her client or (2) an indirect financial interest in his or her client.
a. The auditor has a direct financial interest in a partnership that invests in the auditor's client.
b. The auditor owns stock in a bank from which his or her audit client borrowed money.
c. The auditor owns shares in a mutual fund that. in turn, owns shares of stock in the auditor's client.
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a The auditor has an indirect financial interest in his or ...View the full answer
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Related Book For 
Auditing An Assertions Approach
ISBN: 9780471134213
7th Edition
Authors: G. William Glezen, Donald H. Taylor
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