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AICPA 4-6
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What is involved with disassociation?
Disposing of any financial interest in the client
Collecting/repaying loans to/from the client
Ceasing to participate in client's benefit plans
Liquidating/transfering all vested benefits in the client's plans
Inter-Entity Investment
Covered member has an investment in a non-client that has a significant relationship with an attest client.
Can a covered member invest in a company that the client has a controlling interest in?
No.
Can a covered member invest in a company that the client has a material investment in?
Independence of a covered member is impaired by loans from...
An attest client
Any officer or director of an attest client
A stockholder owning 10%+ interest in an attest client
What loans are permitted from financial institutions that are attest clients?
Car loans fully collateralize by the vehicle
Credit cards where the balance is reduced each cycle to <10,000
Loans fully collateralize by cash
All partners and professional employees are prohibited from having how much of a financial interest in an attest client?
>5%
Author
Anonymous
ID
77865
Card Set
AICPA 4-6
Description
AICPA
Updated
2011-04-06T21:52:18Z
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