(3) [Fact pattern for questions 3 and 4] A member is engaged in an attest engagement for a client; the attest client is implementing changes to its financial reporting system or process (for example: it is implementing IFRS). Would a member's independence be impaired, or likely impaired, if they provide training to the attest client, when the attest client does not have a basic understanding of IFRS and the training involves supervising the attest client personnel and daily operations?

(a) Yes, independence is likely impaired.

(b) No, independence is likely not impaired.

(4) Regardless of whether independence was impaired or not in Question 3, the threat that is most likely relevant in this instance was:

(a) Management participation threat

(b) Self-review threat

(c) Familiarity threat

(d) No threat is at issue, this is not an ethical question, it is a non-issue and would be recognized as a non-issue by the AICPA.