Question
The clientele of Black & Company's audit practice consists primarily of privately owned small and middle market companies. Recently the firm won two audits of
The clientele of Black & Company's audit practice consists primarily of privately
owned small and middle market companies. Recently the firm won two audits of
public companies, including one issuer. From an independence perspective, what
impact will these new client engagements have on Black & Company?
a. Black & Co. will have to comply with SEC and PCAOB independence rules.
b. Black & Co. will have to comply with DOL and GAO independence rules.
c. Black & Co. will have to apply the IESBA's conceptual framework approach.
d. Black & Co. will need an annual peer review and PCAOB inspection.
Thanks,
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