Determine if the Auditor is Independent or not independent:Steve Custer, CPA, set up a casualty...
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Determine if the Auditor is Independent or not independent:Steve Custer, CPA, set up a casualty and fire insurance agency to complement his auditing and tax services. He does not use his own name on anything pertaining to the insurance agency and has a highly competent manager, Jack Long, who runs it Custer often requests Long to review the adequacy of a client's insurance with management if it seems underinsured. He believes that he provides a valuable service to clients by informing them when they are underinsured.Respuesta Pregunta Franz Martens is a CPA, but not a partner, with three years of professional experience with Roberts and Batchelor, CPAs. He owns ot shares of stock in an audit client of the firm, but he does not take part in the audit of the client, and the amount of stock is not material in relation to his total wealth.Respuesta Pregunta Ramon, CPA, provides tax services, management advisory services, and bookkeeping services and conducts audits for the same nonpublic client. Because the firm is small, the same person often provides all the services.
Determine if the Auditor is Independent or not independent:Steve Custer, CPA, set up a casualty and fire insurance agency to complement his auditing and tax services. He does not use his own name on anything pertaining to the insurance agency and has a highly competent manager, Jack Long, who runs it Custer often requests Long to review the adequacy of a client's insurance with management if it seems underinsured. He believes that he provides a valuable service to clients by informing them when they are underinsured.Respuesta Pregunta Franz Martens is a CPA, but not a partner, with three years of professional experience with Roberts and Batchelor, CPAs. He owns ot shares of stock in an audit client of the firm, but he does not take part in the audit of the client, and the amount of stock is not material in relation to his total wealth.Respuesta Pregunta Ramon, CPA, provides tax services, management advisory services, and bookkeeping services and conducts audits for the same nonpublic client. Because the firm is small, the same person often provides all the services.
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