Other Association and Relationships Flashcards
1
Q
When does a gift NOT impair independence?
A
When the gift is clearly insignificant
2
Q
Litigation between client and member doesn’t impair independence when…
A
It’s a minor dispute or not related to engagement
3
Q
Litigation between client and member does impair independence when…
A
1 An attest client sues or threatens to sue firm stating deficiencies in audit work
2 Covered member sues stating fraud or deceit
