What Impair Independence?

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Litigation Affects Independence when?

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■ The Client = 원고(the Plaintiff or a Nominal Plaintiff) 일 때.

 

■ The Third Party(e.g., an insurance company)도 a Client of the member이고, Material Settlement is Significant 할 때.

 

■ Cross-Claims 에서는 CPA랑 Client가 Against each other여야함.

 

 

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회계법인에서 일하던 누군가가 ☞ Attest Client 회사의 Key Position으로 이직한 경우

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■ 회계법인의 Team member가 Professional Skeptism만 있다면 이직자와 Interaction 정도는 괜찮다.

 

■ But, 이직자가 회계법인에 컨설팅(Consulting)을 해준다던가,

 

이직자가 회계법인의 사무실을 쓴다던가 하는것은 안됨.

 

■ 이직한사람이 회계법인에서 Payout Period중에 고정된 Fixed Payment를 받는건 괜찮다.

 

 

 

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General Counsel ↔ Consulting

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Genenral Counsel violates independence.

 

Independence is not required in Consulting.

 

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At least more likely than not to be upheld.

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이러면, PCAOB기준으로, Aggressive Tax Service도 괜찮음.

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Key Position = equivalant to management

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CPA's sibling,

the CPA’s spouse

 

gets

 

Key Position

e.g. the director of internal auditing for client or officer

 

 

(↔not Non-Key position: membership, bookkeeper)

 

 

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선물

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25달러 스포츠 경기관람권정도의 gift는 괜찮다.

-Clearly insignificant value from a client.

 

 

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소개비

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상장회사 회계감사하는 회계법인은, 

감사서비스 고객에게 다음과 같은 소개비를 받을 수 없다.

 

A member in public practice cannot accept a commission for recommending any product or service to a client when the firm performs

(1) an audit or review of financial statements,

(2) a compilation of a financial statement that is reasonably expected to be used by a third party if the report does not disclose the CPA’s lack of independence, or

(3) an examination of prospective financial information for that client.

 

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Membership ↔ Membership

Indirect Financial Interest ↔ Direct Financial Interest 

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■ If membership in a club is essentially a social matter, a member’s independence is not impaired if the club requires members to acquire a share of debt or equity securities. Such ownership is not considered a direct financial interest. 

 

■Direct Financial Interest 은 material 하지 않아도 독립성 위배임.

e.g.

ownership of equity,

debt securities (such as bonds issued by an attest client),

or other investments in a client.

 

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Trustee ↔ Guardian

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Serving as the trustee for the estate, not as guardian of the children, impairs independence.

 

The mere designation to serve as a trustee does not impair independence.