The clientele of Black & Company's audit practice consists primarily of privately owned small and middle-market companies. Recently the firm won two audits of public companies, including one issuer. From an independence perspective, what impact will these new client engagements have on Black & Company? 

a. Black & Co. will have to comply with SEC and PCAOB independence rules.

b. Black & Co. will have to comply with DOL and GAO independence rules.

 c. Black & Co. will have to apply the IESBA's conceptual framework approach.

 d. Black & Co. will need an annual peer review and PCAOB inspection.

Please also explain your answer.

Answer rating: 100% (QA)

Answer a Black Co will have to comply with SEC and PCAO... View the full answer