Cloud 9 - Continuing Case

Cloud 9 - Continuing Case Sharon Gallagher, Josh Thomas, and JO Wadley work for the audit firm Partners Sharon is an audit manager. Josh is an audit senior. and JO is an audit partner. They meet to discuss the results of survey Of Other offices of partners. as well as their own ortice. The suney was directed toward determining if W&S Part ners had any independence problems with respect a new pro- spective client. Cloud 9 Inc, Based on the survey. they learn the following; JO Wadley and David Collier (Cloud 9's CFO) serve on the board of directors of the local chapter of Olympics. A tax senior in another office has a sister that consults with Cloud 9 on shoe design. Cloud 9 is her largest client. Fifteen employees of partners. ranging from partners to entry-level staff. own shares in retailers that sell Cloud 9 A survey shows that of professional staff working for W'&S Partners have purchased Cloud 9 shoes in the past. Req uired Evaluate each of the items above and their impact on the inde pendence of WRS Partners with respect to Cloud 9. If relevant, list any additional actions you might take before making your independence recommendation to Jo Wadley.