Question
In regard to immediate family interests which of the following is false? MULTIPLE CHOICE a. ) If a covered member's immediate family member owns one
In regard to immediate family interests which of the following is false?
MULTIPLE CHOICE
a. | ) | If a covered member's immediate family member owns one share of stock in a company that the covered member is auditing, the covered member's independence is impaired. |
b.) An immediate family member may be employed by an audit client of the covered member if the family member is not in a position to influence the financial statements. | ||
c.) | Immediate family are considered the covered member's spouse, spousal equivalent, parents, siblings and dependent/non dependant children. | |
d.) If an immediate family member has a financial interest in an audit client, a public accounting firm may retain its independence by making sure that the CPA involved is not a covered member for that particular client. |
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