Swerdlow, a member, is a tax manager with the firm Cheskes & Memel, CPA's. The firm performs an audit for a publicly traded manufacturing company and will be auditing the financial statements for the year ended December 31, 20X4. Swerdlow will be providing at least fifty hours of tax services to the audit client before and after the December 31, 20X4 year-end. Swerdlow's spouse inherited a small holding in the audit client's stock on November 2, 20X3, and does not want to dispose of the stock. What will be true about the firm's independence from the aforementioned audit client?

 

Answer rating: 100% (QA)

Given the scenario described there are potential independence issues that arise due to Swerdlows inv... View the full answer