Keisha Alexander CPA & Associates is a CPA firm that audits large banks. Assume that one of the engagement partners that works on the audit owns two shares of stock in one of the banks that the CPA firm audits. The ownership of the stock is an insignificant part of the partner's total wealth.

a. Discuss whether the engagement partner has violated the Code of Professional Conduct. If so, what section has been violated and why? If not, state why not based on the information in the Code of Professional Conduct.

b. Discuss whether there is a threat to the partner's independence by owning two shares in a bank that the firms audits. If so, identify the specific threat and state why you consider it to be a threat. If not, state why not.