Auditing and Assurance Services 1st Edition by Iris Stuart

تمرين 28

In which of the following circumstances will a CPA who audits XM Corporation lack independence
a. The CPA is a director of, but does not control, YN Corporation, which has a loan from XM.
b. The CPA and XM's president each owns 25% of FOB Corporation, a closely held company.
c. The CPA has an automobile loan from XM, a financial institution. The loan is collateralized by the automobile.
d. The CPA reduced XM's usual audit fee by 40% prior to the audit because XM's financial condition was unfavorable.