Question: Question 5 You have started working for a new audit client, but your sister works there as the Chief Technology Officer. You are unsure whether

Question

5

You have started working for a new audit client, but your sister works there as the Chief Technology Officer. You are unsure whether this causes an independence issue. What should you do

?

Consult with your engagement team lead and

/

or your local Q&RM Independence team at your KPMG firm.

Request that your sister discuss this issue with her manager at the company to determine if they agree with you being on the audit team.

Request your sister not to mention your sibling relationship to her colleagues and avoid her when working at the client's premises.

Do nothing, given your sister is not an accountant the relationship is not an independence issue.

Question 5 You have started working for a new

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

LOBAL INDEPENDENCE TRAINING Other Professional Staff of 11 questions answered Question 8 You have started working for a new audit client, but your brother works there as a senior software engineer....

Question 6 Which of the following actions must you perform in relation to the financial interests of your spouse prior to getting married? Explain to your spouse that you must monitor constantly your...

Which of the following actions must you perform in relation to the financial interests of your spouse prior to getting married? Explain to your spouse that you must monitor constantly your financial...

Please the following Question: Case Issues: 1. Issue: Reliance on the iPhone and iPad Has been reliant on the iPhone as its primary source of revenue. Plan option: Can they promote the iPhone more?...

After almost a decade as CEO, Tim Cook could look back at his record at Apple with enormous pride. During his tenure, Apple became the world's first trillion dollar market cap company. The firm's...

Help me with the answers ,I need 95% at least I 'll give you good tip whoever help me to get 95 %trust me Question 1 of 50 Which of the following statements is false? Lapping of accounts receivable...

1 of 50 Which of the following statements is false? Lapping of accounts receivable is least likely to occur when there is an inadequate segregation of duties. Alternative procedures to the...

Help me with all the answers Question 1 of 50 Which of the following statements is false? Lapping of accounts receivable is least likely to occur when there is an inadequate segregation of duties....

Required: Refer to the Makaro Ltd case on the next page and answer the questions that follow. CASE STUDY: MAKARO LTD The client: Makaro Limited Makaro Ltd, an ASX listed freight and logistics...

All the requirement is in the attach file, please give me the answer as soon as possible. ISSUES IN ACCOUNTING EDUCATION Vol. 24, No. 1 February 2009 pp. 63-76 Assessing Information Technology...

Consider the U.S. supply-side policies under President Ronald Reagan and President George W. Bush(as discussed in Appendix 15-2), such as cuts in taxes, transfers, and regulations. Do you expect...

You have planned to raise funds for your 12 years daughters future university fees by investing in diverse financial assets. A portion of the investments has been placed in a Bank of Zambia 10 years...

Which one of the following is not one of the steps in the M&A model building process? Question 1 2 options: Valuing the acquirer and the target firms as standalone businesses Valuing the target and...

ueens Hospital, a NPF hospital, provided $100,000 in charity care which it never expected to collect. How does QH report the $100,000 patient care service on its financial statement?...