The APES 110 independence principle is violated by the auditor having any direct or material indirect ownership interest in a client.

Name: The APES 110 independence principle is violated by the auditor having any direct or material indirect ownership interest in a client.
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Question

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The APES 110 Code of Ethics for Professional Accountants, including the independence standards, states that having any direct or material indirect financial interest in an audit client impairs independence.

The APES 110 Independence Principle Is Violated by the Auditor