In which of the following situations would a CPA not be considered independent?
A)where a CPA has obtained an auto loan from a banking client in a prior year.
B)where a CPA has obtained a home mortgage loan in 1988 from a client.
C)where a CPA has obtained an auto lease from a banking client in the current year.
D)where the spouse of a CPA has obtained a home mortgage loan in the current year.

Question

Quizplus · Accepted Answer

A CPA is not considered independent if their spouse has a direct financial interest, such as a home mortgage loan, with a client in the current year.

In Which of the Following Situations Would a CPA Not