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Author Question: Oehlers, CPA, is a staff auditor participating in the engagement of Capital Trust, Inc. Which of the ... (Read 63 times)

kmcolvin

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on: Aug 21, 2022

Question 1

Julie and Lisa are sisters. Julie is a CPA auditing the company where Lisa works. Julie's independence is impaired if
◦ Lisa is the controller.
◦ Lisa owns 2% of the company.
◦ Lisa is the marketing manager.
◦ All of these.

Question 2

Oehlers, CPA, is a staff auditor participating in the engagement of Capital Trust, Inc. Which of the following circumstances impairs Oehlers' independence?
◦ Oehlers' sister is an internal auditor employed by Capital Trust.
◦ Oehlers' friend, an employee of another local accounting firm, prepares the tax return of Capital Trust's CEO.
◦ Oehlers' and Capital Trust's 401K plans own stock with the same corporation.
◦ During the period of professional engagement, Capital Trust and Oehlers discussed business over lunch at a first-class restaurant.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by kmcolvin on Aug 21, 2022

labrinker

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Reply #1 on: Aug 21, 2022
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kmcolvin

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Reply 2 on: Aug 21, 2022
Excellent

jomama

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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