Independence is required
A) under GAAS but not attestation standards.
B) under both GAAS and attestation standards.
C) under attestation standards but not GAAS.
D) is preferred but not required under both GAAS and attestation standards.

Question

Quizplus · Accepted Answer

Independence is required under both GAAS (Generally Accepted Auditing Standards) and attestation standards. Both standards require auditors to be independent in fact and appearance to provide an unbiased opinion on the financial statements or attestation engagement. Independence helps maintain the integrity and reliability of the audit or attestation report, which enhances the trust of stakeholders in the auditor's opinion.

Independence Is Required