Independence Flashcards
1
Q
Lawsuit for immaterial amount for work unrelated to attestation
A
Independence is not impaired
2
Q
Bank account held at an institution below the FDIC insures amount
A
Independence is not impaired
3
Q
Unsolicited inheritance does not impair independence as long as what safeguards are in place
A
1) Funds disposed within 30 days of knowledge and obtained rights to the assets
2) during period you did not have right to sell you was a) not on the engagement team & b) direct interest is not material
