The SEC's position on independence can best be characterized as:
A) Proscribing certain financial interests with the client
B) Proscribing certain business relationships with the client
C) Restricting the provision of certain nonaudit services to audit clients
D) All of these

Question

Quizplus · Accepted Answer

The SEC's position on independence includes all of the actions listed in choices A, B, and C. The SEC prohibits auditors from having certain financial interests or business relationships with their audit clients and restricts the provision of certain nonaudit services to maintain auditor independence.

The SEC's Position on Independence Can Best Be Characterized As