If the AICPA Code of Professional Conduct does not specifically address a threat to auditor independence, the...
If the AICPA Code of Professional Conduct does not specifically address a threat to auditor independence, the auditor should:
| A |
Conclude that the threat results in a lack of independence unless it can be shown that no impairment of independence occurs. |
|
| B |
Consider the threat from the perspective of a reasonable and informed third party who has knowledge of all the relevant information. |
|
| C |
Conclude that the threat is not significant unless proven so. |
|
| D |
Consult the Statements on Auditing Standards for guidance. |
Homework Answers
Correct option is: B. Consider the threat from the perspective of a reasonable and informed third party who has knowledge of all the relevant information
When the AICPA Code of Professional Conduct does not specifically addresses a threat to the auditors independence but the auditor still consider the threat from the perspective of third persons view as he has knowledge of all the relevant information
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