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Levine, a member, has had two lawsuits filed against him. The first suit, by the manag Mfg. alleges that Maron's financial statements for 20X3 were
Levine, a member, has had two lawsuits filed against him. The first suit, by the manag Mfg. alleges that Maron's financial statements for 20X3 were materially overstated auditing procedures. The second suit, by Link \& Co., is for the amount of interest an the company paid the IRS and state authorities for being late in filing income tax ret claimed in the Link \& Co. suit is not material to Levine. What is the effect of the lawsuits on Levine's independence with these clients? I. The lawsuit by the management of Maron Mfg. impairs Levine's independence. II. The lawsuit by the management of Maron Mfg. does NOT impair Levine's inder III. The lawsuit by Link \& Co. impairs Levine's independence. IV. The lawsuit by Link \& Co. does NOT impair Levine's independence
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