The following individuals are on the engagement team and on the management of YOUCPA: Sarah Ball, Senior
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Question:
The following individuals are on the engagement team and on the management of YOUCPA:
- Sarah Ball, Senior Partner, YOUCPA
- Manages the YOUCPA partnership
- No financial interest in client
- No relative with firm
- No past history working with client in a direct manner (meaning working for the client as an employee)
- Bill Davis, Managing Partner, YOUCPA
- Managing the audit of the client
- No financial interest in the client
- No relative with the firm
- No past history working with the client in a direct manner
- David Youssef, Manager of Taxation Services, YOUCPA
- Manages the taxation services for the accounting firm
- No financial interest in the client
- No relative with the firm
- No past history working with the client in a direct manner
- Yewel Faraday, Manager of Information Consulting, YOUCPA
- Manages the information consulting for the accounting firm
- Yewel has no financial interest in the client
- No relative with the client in a direct manner
- Frank Bell, Supervisor of Auditing assigned to Client, YOUCPA
- Will supervise the audit at the main plant
- No financial interest in the client
- Wife works with client as a worker in the plant
- Wife has no control or influence on the impact or creation of the financial statements
- Wife has been working there for 20 years
- Beth Wright, Supervisor of Auditing assigned to Client, YOUCPA
- Will be auditing the distribution locations
- No financial interest directly in the client
- Does own a mutual fund that is invested in the client
- Mutual fund estimated value is 0.01% of the total value of the stock market value of the client
- Mutual fund makes all decisions on who, when, and how much they invest in corporations
- Total investment in the mutual fund is $1,000
- Wilbur Singation, Auditor, YOUCPA
- No financial interest in the client
- No relative with the client
- No past history working with the client in a direct manner
- Has contacted a head hunter looking for a new, better position
- Head hunter has discussed his qualifications with many firms, discreetly
- Wilbur does not know the firms or the content of those discussions
- Sam Martin, Auditor, YOUCPA
- No financial interest in the client
- Cousin works with the client in a role as the mail distribution person
- Cousin handles the mail
- Conversation with cousin has been rough in the past over a small debt the cousin still will not pay
- The amount of the debt is $500
- Mary Franks, Auditor, YOUCPA
- No financial interest in the client
- No relative with the client
- No past history working with the client in a direct manner
- Phil Cole, Auditor, YOUCPA
- Recently joined the team
- Used to work at the client less than a year ago
- Was responsible for financial planning and control
- Left to experience the auditing profession
- Callie Smart, Auditor, YOUCPA
- Just graduated from a prestigious online university in Illinois
- No relative or any direct relationship to the client
- No investment in the client
- You, Auditor, YOUCPA
- No investment in the client
- No past working relationship with the client in a direct manner
- No relatives working at the client
Assignment Guidelines:
For each individual on the engagement team and on the management of YOUCPA, complete the following:
- Determine if they are or are not independent. Explain your reasoning.
Related Book For
South Western Federal Taxation 2015 Essentials of Taxation Individuals and Business Entities
ISBN: 9781285438290
18th edition
Authors: James Smith, William Raabe, David Maloney, James Young
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