A CPA does not own any stock in an audit client.However,the CPA's great-uncle,who lives in Finland,does own stock in this client.
a. Does the uncle's stock holding impair the CPA's independence?
b. The CPA knows that he is the sole beneficiary of this uncle's will and the uncle is 97-years-old. Is the CPA's independence impaired?
c. The CPA just learned that his uncle died. Is the CPA's independence impaired?

Question

Quizplus · Accepted Answer

The Answer of A CPA does not own any stock in an audit client.However,the CPA's great-uncle,who lives in Finland,does own stock in this client.
a. Does the uncle's stock holding impair the CPA's independence?
b. The CPA knows that he is the sole beneficiary of this uncle's will and the uncle is 97-years-old. Is the CPA's independence impaired?
c. The CPA just learned that his uncle died. Is the CPA's independence impaired?

A CPA Does Not Own Any Stock in an Audit