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Becker & Smith, CPAs, performs a financial statement review for BAM Markets (BAM). Caroline, the manager on the job, learns that Don, a member of
Becker & Smith, CPAs, performs a financial statement review for BAM Markets (BAM). Caroline, the manager on the job, learns that Don, a member of the review team, violated the independence rules because his sister works in a key position at BAM. Under the Breach of an Independence interpretation, what is the first thing Caroline should do?
Determine whether Don's participation on the review impaired the team's objectivity. Ask human resources to immediately investigate Don's professional conduct. Speak to the client's review partner about reperforming all of Don's audit work. Disclose the violation to the appropriate person in her firm in accordance with policyStep by Step Solution
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