Direct ownership in a client's business must be material to the practitioner's investment portfolio in order to violate the APES 110 independence requirements.

Question

Quizplus · Accepted Answer

APES 110 does not specify that direct ownership in a client's business must be material to the practitioner's investment portfolio to violate independence requirements; any direct financial interest or material indirect financial interest in a client's business can impair independence.

Direct Ownership in a Client's Business Must Be Material to the Practitioner's