Which of the following is NOT an example of a conflict of interest?
A) Advising two clients at the same time who are competing to acquire the same company when the advice might be relevant to the parties' competitive positions
B) Advising a client to invest in a business in which, for example, the immediate family member of the CPA has a financial interest in the business
C) Providing tax or personal financial planning services for several members of a family whom the CPA knows to have opposing interests
D) Accepting commissions in a financial planning engagement for a nonaudit client

Question

Quizplus · Accepted Answer

A conflict of interest is when a CPA's personal interest or relationship may influence their professional judgment for a client. Accepting commissions in a financial planning engagement for a nonaudit client would violate the independence requirement, but it's not a conflict of interest since there is no personal interest or relationship involved. A, B, and C are all examples of conflicts of interest.

Which of the Following Is NOT an Example of a Conflict