Auditing & Assurance Services 6th Edition by Timothy Louwers

Exercise 120

Yolanda is the executive in charge of the Santa Fe office of Best Co, an international public accounting firm. She is responsible for the practice in all areas of audit, tax, and consulting, but she does not serve as a field audit partner or a reviewer. Javier is the partner in charge of the Besame Inc. audit (an SEC filing). Is Best Co independent if (a) Yolanda owns common stock of Besame or (b) her brother owns 10 shares of the common stock of Besame?