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What happens if an independence threat appears to be insurmountable? An audit firm should decline the offer to be the auditor of a prospective client
- What happens if an independence threat appears to be insurmountable?
- An audit firm should decline the offer to be the auditor of a prospective client or resign from the audit of an existing client.
- The audit firm should contact the State Board of Accountancy so they can make a press release to discourage other accountants from taking the engagement.
- The audit firm should make certain that safeguards are put in place to limit or remove those threats.
- The audit firm should take the engagement and continue to make certain that safeguards are put in place to limit or remove those threats.
- An audit firm should decline the offer to be the auditor of a prospective client or resign from the audit of an existing client.
- The audit firm should contact the State Board of Accountancy so they can make a press release to discourage other accountants from taking the engagement.
- The audit firm should make certain that safeguards are put in place to limit or remove those threats.
- The audit firm should take the engagement and continue to make certain that safeguards are put in place to limit or remove those threats.
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