Patty was a partner of the Geesling CPA firm. Mary was a professional employee there. Cunningham...
Patty was a partner of the Geesling CPA firm. Mary was a professional employee there. Cunningham Corporation was a Geesling audit client. Which of the following positions may Patty and/or Mary hold at Cunningham without impairing independence?
A. Director.
B. Food service technician.
C. Voting trustee.
D. Promoter.
Homework Answers
Solution:
Patty and/or Mary may hold position "Food service technician" at Cunningham without impairing independence.
Explanation:
As per rule 101, Independence shall be considered to be impaired if:
partner or professional employee of the firm was simultaneously associated with the client as a(n) "Director, ,voting trustee and promoter"
Hence option B is correct.
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Patty was a partner of the Geesling CPA firm. Mary was a
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