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Flashcards: Professional Standards
John Rich is a CPA auditor with Biggs, CPA. Rich is an avid investor and has a rather larger portfolio. Rich has a 6% stake in Sigma Corp a public company client of Biggs. Rich is not on the Sigma account but notified the partners of his investment. Because of Rich’s investment:
independence is not impaired.
independence is not impaired because Rich does not work on the Sigma account.
independence is impaired
independence is not impaired if disclosed.
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