Mr. Ambit was employed by Keen & Keen, CPAs, in early June 19X2.

a. Prior to employment, Mr. Ambit owned considerable stock in several of Keen & Keen's audit clients. Upon employment, he sold all the stock of clients whose financial statements would be audited by him or anyone in the office where he worked. He kept the rest of the stock.

b. Mr. Ambit is an honorary director of the local United Fund, an audit client of his new firm.

c. Mr. Ambit has a personal automobile loan with a bank that is an audit client. The terms of the loan are basically the same as the terms of other automobile loans held by the audit client.

d. Mr. Ambit's brother is an internal auditor of an audit client. Mr. Ambit has been assigned to this audit.

e. Mr. Ambit's wife works as a part-time salesperson for an audit client to which he has been assigned. Required: For each of the five independent situations listed above, indicate whether Mr. Ambit is or is not in violation of the rule on independence of the Code of Professional Conduct. Support your answers with reasons.