Question
Answer yes or no to each question. 1. Assume that a CPA has an audit client that has asked the CPA to recommend and design
Answer yes or no to each question.
1. Assume that a CPA has an audit client that has asked the CPA to recommend and design internal controls over financial reporting that will help in the clients implementation of FASB ASC 606. Can the CPA accept this nonaudit engagement and remain independent for purposes of performing the audit?
2. Assume that a CPA has an audit client that has asked the CPA to develop a plan for the client to implement FASB ASC 842 and then to present the plan to the clients board of directors. Can the CPA accept this nonaudit engagement and remain independent for purposes of performing the audit?
3. Assume that a CPA provides most of the financial support for the CPAs ex-spouse who has just started a business. Is the CPA independent for purposes of performing the audit of the ex-spouses business?
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