House & Wine, CPAs is a one-office CPA firm that has audited Cabernet Enterprises for many years. James Vine, son of the owner of Cabernet Enterprises, graduated from college this year and was hired as a staff accountant by House & Wine, CPAs. James Vine is not dependent on his father. With respect to continuing audits of Cabernet Enterprises by House & Wine, CPAs, which of the following statements is incorrect? There is an independence problem in continuing to audit Cabernet Enterprises if James Vine works on the audit of this company. If James Vine does not work on the audit of Cabernet Enterprises, House & Wine, CPAS may continue to audit that company as independent auditors. If James Vine advances to the rank of manager, House & Wine, CPAs would not, because of that promotion, lose their independence with respect to Cabernet Enterprises. Since they are no longer independent, House & Wine, CPAs may no longer perform an audit of Cabernet Enterprises