Section 324CH lists 19 relationships that establish a conflict of interest. Which relationship that the auditor may have with the client is NOT included?
A) Owes an amount of more than $5000 to the audited body
B) Has an asset that is an immaterial investment in an entity that has a controlling interest in the audited body
C) Has an asset that is a material investment in an entity that has a controlling interest in the audited body
D) Has an asset that is an investment in the audited body

Question

Quizplus · Accepted Answer

The relationship where the auditor has an immaterial investment in an entity that has a controlling interest in the audited body is not included in the list of 19 relationships that establish a conflict of interest.

Section 324CH Lists 19 Relationships That Establish a Conflict of Interest