According to the AICPA Interpretations of Rule 101, Independence: During

According to the AICPA Interpretations of Rule 101, independence: During the period of the professional engagement, auditor independence is NOT considered to be impaired if the auditor:

A) had or was committed to acquire any direct or material indirect financial interest in the client.
B) had a joint closely held investment that was immaterial to the covered member.
C) was a trustee of any trust or executor or administrator of any estate if such trust or estate had or was committed to acquire any direct or material indirect financial interest in a client.
D) except as specifically permitted, had any loan to or from the client.