Ms. Qian, a member of the staff of Knowledge & Co., CPAs, worked on the audit of Client X, a non-public broker-dealer. The audit covered the year ended December 31, 2020. The audit was completed on March 31, 2021. Ms. Qian billed Client X for 15 hours of work on the audit. On April 1, 2021, Ms. Qian accepted the position of Controller at Client X and resigned from her position at Knowledge & Co., CPAs. 

REQUIRED: 

Is Knowledge & Co., CPAs independent with respect to Client X for one year because of Ms. Qian's employment relationship? 

(1) Respond Yes or No, and (2) Explain your answer.

Answer rating: 100% (QA)

NO The general standard of auditor independence is that an auditors independence is impaired if the ... View the full answer