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Question 8 You have just been assigned as the manager of an engagement with an audit client. Before you start working on the engagement, what steps must you take with your investments to ensure independence? Select all that apply. Transfer your investments to your spouse so that you can continue holding them. Vordo not hold any

Question 8 You have just been assigned as the manager of an engagement with an audit client. Before you start working on the engagement, what steps must you take with your investments to ensure independence? Select all that apply. Transfer your investments to your spouse so that you can continue holding them. Vordo not hold any

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 8 You have just been assigned as the manager of an engagement with an audit client. Before you start working on the engagement, what steps must you take with your investments to ensure Independence? Select all that apply. Transfer your investments to your spouse so that you can continue holding them. Review your investment portfolio to make sure you do not hold any restricted investments in the client I Dispose of any restricted investments before starting work on the engagement and update your KICS account to reflect the disposals You do not need to do anything wvith your investments since you had them before the company became a client of KPMG.
Transcribed Image Text:Question 8 You have just been assigned as the manager of an engagement with an audit client. Before you start working on the engagement, what steps must you take with your investments to ensure Independence? Select all that apply. Transfer your investments to your spouse so that you can continue holding them. Review your investment portfolio to make sure you do not hold any restricted investments in the client I Dispose of any restricted investments before starting work on the engagement and update your KICS account to reflect the disposals You do not need to do anything wvith your investments since you had them before the company became a client of KPMG.
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