1. According to the profession’s ethical standards, an auditor would be considered independent in which of the following instances?

a. The auditor is the officially appointed stock transfer agent of a client.

b. The auditor’s checking account that is fully insured by a federal agency is held at a client financial institution.

c. The client owes the auditor fees for more than two years prior to the issuance of the audit report.

d. The client is the only tenant in a commercial building owned by the auditor.