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A CPA Does Not Own Any Stock in an Audit

question 27

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A CPA does not own any stock in an audit client.However,the CPA's great-uncle,who lives in Finland,does own stock in this client.
a. Does the uncle's stock holding impair the CPA's independence?
b. The CPA knows that he is the sole beneficiary of this uncle's will and the uncle is 97-years-old. Is the CPA's independence impaired?
c. The CPA just learned that his uncle died. Is the CPA's independence impaired?


Definitions:

Cosmetic Surgery

Surgical procedures aimed at enhancing or altering one's appearance for aesthetic reasons rather than medical necessity.

Body Objectification

The practice of treating or viewing a person's body as an object, separated from their personality and existence as a human being, often leading to negative psychological effects.

Cooperation

The process of working together towards a common goal or benefit.

Negotiation

The process in which two or more parties aim to reach a mutually acceptable agreement through dialogue and compromise.

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