WitrynaWhich of the following financial interests would impair a covered member's independence in such a manner that it could not be reduced to an acceptable level … WitrynaAcovered memberwho is the account owner of a Section 529 savings plan is considered to have adirect financial interestin both the plan and the plan’s underlying investments because the account owner elects which sponsor’s Section 529 savings plan to invest in, and prior to making the investment decision, thecovered memberhas access to …
Audit Theory and Practice Chapter 4 Flashcards Quizlet
However, if the client's financial interest in the LP were not material to the client, a covered member's immaterial financial interest in the LP would not impair independence. 3. If the covered member is a limited partner in the LP, the covered member is considered to have an indirect financial interest in all subsidiaries of the LP. If the ... WitrynaAnswer —Independence would be considered to be impaired if any partner or professional employee of the firm served as a director or officer of the organization and the organization exercised managerial control over the local charities. (See ethics ruling No. 93 [ET section 191.186–.187] under rule 101 [ET section 101.01] for additional … is britney spears still in vegas
An auditor’s independence is considered impaired if the …
WitrynaThe covered member continues to hold an immaterial indirect financial interest in the client. C. The covered member continues to serve as a trustee for the client's pension plan and has the authority to make investment decisions. D. The covered member's spouse owns an immaterial amount of shares of common stock in the client. Witrynaimmaterial financial interest means any financial interest with a determinable monetary value. The total value received from the same third party should not exceed … WitrynaThe primary factor that distinguishes a direct from an indirect financial interest is the. a. Materiality of the amount involve b. Control over investment decisions. c. Risk … is brit really dead on general hospital