Question
You have recently become a Partner for a public accounting firm in Fort Worth, Texas. One of your new clients is the Fort Worth Independent
You have recently become a Partner for a public accounting firm in Fort Worth, Texas. One of your new clients is the Fort Worth Independent School District (FWISD). Your close family friend, who your family vacationed with last summer, has been the Superintendent of FWISD for 5 years. According to the AICPA Independence standards, are you considered independent from the FWISD? Should you accept this engagement? Should you notify your firm of your relationship? Defend your decision. Include the importance of the independence standards, note which standard(s) is applicable to this situation, and how the guidance applies to this decision.
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