ISIT A VIOLATION OF THE INDEPENDENCE RULE? 1. John is an audit partner with XYZ, CPAs, a one-office CPA firm. John owns 100 shares of common stock in one of the firm's audit clients, but he does not provide any audit or non-audit services to the client. 2. John is the engagement partner for the audit of Allergan, PLC, a S&P 500 company. John owns 200 shares( $40,000) of Vanguard 500 Index Fund. Is John independent in regards to the engagement