Benjamin Leon, a retired partner of your public accounting firm, has just been appointed to the board of directors of Palmer Corporation, your firm's client. Leon is also a member of your firm's income tax committee which meets monthly to discuss income tax problems of the partnership's clients. The partnership pays Leon \($300\) for each committee meeting he attends and a monthly retirement benefit of \($5,000.\)

Required: 

Discuss the effect of Leon's appointment to the board of directors of Palmer Corporation on your firm's independence in expressing an opinion on the Palmer Corporation's financial statements.