According to the profession's ethical standards,an auditor would be considered independent in which of the following instances?
A)The auditor is the officially appointed stock transfer agent of a client.
B)The auditor's checking account that is fully insured by a federal agency is held at a client financial institution.
C)The client owes the auditor fees for more than two years prior to the issuance of the audit report.
D)The client is the only tenant in a commercial building owned by the auditor.

Question

Quizplus · Accepted Answer

An auditor is considered independent if they have a checking account at a client financial institution, as long as it is fully insured by a federal agency. This does not impair independence.

According to the Profession's Ethical Standards,an Auditor Would Be Considered