An auditor that properly satisfies the Independence Rule will,with regard to an audit client:
A) Never be a fiduciary
B) Always be a fiduciary
C) Be a fiduciary if the audit client is a bank or other so-called public-interest client
D) Be a fiduciary if the audit client poses an undue influence threat

Question

Quizplus · Accepted Answer

The Independence Rule of the American Institute of Certified Public Accountants (AICPA) prohibits auditors from being a fiduciary of their audit clients. Therefore, choice A is correct. Choices B, C, and D are incorrect as they contradict the Independence Rule.

An Auditor That Properly Satisfies the Independence Rule Will,with Regard