In August $2008,$ Ernst & Young LLP agreed to pay more

than $$2\mathrm{.}9$ million to the SEC to settle charges that it violated

ethics rules by coproducing a series of audio CDs with a man who

was also a director at three of EY$$s audit clients. According to

the SEC, EY collaborated with Mark C$.$ Thompson between $2002$ and

$2004$ to produce a series of audio CDs called The Ernst & Young

Thought Leaders Series. Thompson served on the boards at several of

EY$$s clients during the period when the CDs were

produced.What threat to independence existed in the relationship

between EY and Thompson?$$ What are the potential harms

of EY or any other accounting firm of engaging in this kind of

relationship?