Which of the following instances would impair a CPA's independence when they have been retained as the auditor?
I. A charitable organization where the CPA serves as treasurer
II. A municipality where the CPA owns $250,000 of the $25 million outstanding bonds of the municipality
III. A company that the CPA's investment club owns a 10% investment interest
A) I and II
B) I and III
C) II and III
D) I, II, and III
D
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Which of the following statements is true of a niche strategy?
a. A niche strategy is most suitable for firms that have achieved economies of scale. b. A niche strategy requires business firms to reduce after-purchase service options. c. A niche strategy involves removing extra frills from products. d. A niche strategy is ideal for small companies with limited resources.
Title insurance does not protect against:
a. forgery and matters of public record. b. incompetence. c. encroachments. d. zoning ordinances, regulations, or plans.