A CPA firm is not considered independent when it performs which of the following services for a publicly traded audit client?

Question

Quizplus · Accepted Answer

Basic accounting recordkeeping and financial statement preparation, as well as accounting information system design and implementation, both involve management functions and thus impair independence. Tax return preparation, on the other hand, does not impair independence as long as it is approved by the board of directors. Therefore, options A, B, and C are not correct answers.

A CPA Firm Is Not Considered Independent When It Performs