CPA Krogstad is the executive in charge of the Omaha office of the audit firm.He is responsible for the practice in all areas of audit,tax,and consulting,but he does not serve as a field audit partner or a reviewer.CPA Ward is the partner in charge of the Dodger,Inc.audit (an SEC filing).The audit firm's independence is impaired if:
A)Krogstad owns Dodger common stock.
B)Krogstad's brother owns 10 shares of Dodger common stock.
C)Ward's sister-in-law is a sales representative with a territory in California.
D)Ward's fellow partner CPA Felix in the Omaha office has a wife who owns Dodger stock through a mutual fund held in her own employer's employee benefit plan.

Question

Quizplus · Accepted Answer

The Answer of CPA Krogstad is the executive in charge of the Omaha office of the audit firm.He is responsible for the practice in all areas of audit,tax,and consulting,but he does not serve as a field audit partner or a reviewer.CPA Ward is the partner in charge of the Dodger,Inc.audit (an SEC filing).The audit firm's independence is impaired if:
A)Krogstad owns Dodger common stock.
B)Krogstad's brother owns 10 shares of Dodger common stock.
C)Ward's sister-in-law is a sales representative with a territory in California.
D)Ward's fellow partner CPA Felix in the Omaha office has a wife who owns Dodger stock through a mutual fund held in her own employer's employee benefit plan.

CPA Krogstad Is the Executive in Charge of the Omaha