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SEC & PCAOB Independence rules require that an auditor be independent in fact and independent in appearance. What does it mean to be independent in
SEC & PCAOB Independence rules require that an auditor be independent in "fact" and independent in "appearance".
- What does it mean to be independent in "fact" and "appearance" - are they the same thing?
- If they are different, why do you think an auditor must adhere to both requirements?
- What might happen if an auditor only adheres to one (fact or appearance)?
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