The concept of independence is given significant attention in the AICPA Code of Conduct. It is possible for a member to appear to be independent in appearance but not independent in fact.

Question

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The statement is true. The AICPA Code of Conduct places great importance on independence, and it is possible for a member to seem independent in appearance but not be independent in reality. This is referred to as a perceived lack of independence.

The Concept of Independence Is Given Significant Attention in the AICPA