The SEC's position on independence can best be characterized as:
A)Proscribing certain financial interests with the client
B)Proscribing certain business relationships with the client
C)Restricting the provision of certain nonaudit services to audit clients
D)All of the above

Question

Quizplus · Accepted Answer

The SEC's position on independence includes all three aspects mentioned in the answer choices: proscribing certain financial interests with the client, proscribing certain business relationships with the client, and restricting the provision of certain nonaudit services to audit clients. The objective is to maintain auditor independence to avoid any potential conflict of interest that could compromise the auditor's objectivity and integrity in providing an unbiased opinion on the client's financial statements.

The SEC's Position on Independence Can Best Be Characterized As