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) has an asset that is an investment in 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) owes an amount of more than $5 000 to the audited body
D) has an asset that is a material investment in an entity that has a controlling interest 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 listed as a conflict of interest in section 324CH. The other relationships listed are having a material investment in the audited body, owing a significant amount of money to the audited body, having a close family member working for the audited body, and having provided non-audit services to the audited body.

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