An interpretation of the Independence Rule allows members to
A)Hold a material indirect interest in a client.
B)Have loans from a client that are collateralized by cash deposits held by the client.
C)Have home mortgages with a client even if they are on the engagement.
D)Be a trustee of a client pension or profit sharing trust.

Question

Quizplus · Accepted Answer

The Independence Rule allows members to have loans from a client if they are collateralized by cash deposits held by the client, as this does not impair independence.

An Interpretation of the Independence Rule Allows Members to