Independence for covered members

  • Creator
    Topic
  • #182680

    Hi all,

    I am having difficulties understanding the concept of covered members for independence. In Becker, it mentions that covered members included audit team, boss/office “chain of command”. my question is if I (audit associate) am not on the engagement team for this particular audit, do I have to independent as well? Is it apply to All employees that work in public practices to be independent in fact and in appearance?

    Took adult last year, and failed it 65

    Need helps plz!!!

    FAR-Passed
    BEC-Passed
    REG-Passed
    AUD-Passed
    Materials: Becker+Ninja Notes/Ninja MCQ/Ninja Flashcards
    Click my name to view my LinkedIn account.

Viewing 4 replies - 1 through 4 (of 4 total)
  • Author
    Replies
  • #499555
    stoleway
    Participant

    You are not considered as a covered member if you're not on the audit team. You're however considered a covered member if you're a partner or a manager of the audit firm (located in the client's city or state) even if you are not involved in the engagement.

    REG -63│ 84!!
    BEC- 59│70│ 71 │78!
    AUD- 75!
    FAR- 87!

    Mass-CPA

    #499620
    stoleway
    Participant

    You are not considered as a covered member if you're not on the audit team. You're however considered a covered member if you're a partner or a manager of the audit firm (located in the client's city or state) even if you are not involved in the engagement.

    REG -63│ 84!!
    BEC- 59│70│ 71 │78!
    AUD- 75!
    FAR- 87!

    Mass-CPA

    #499557

    @stoleway thanks for your explanation

    FAR-Passed
    BEC-Passed
    REG-Passed
    AUD-Passed
    Materials: Becker+Ninja Notes/Ninja MCQ/Ninja Flashcards
    Click my name to view my LinkedIn account.

    #499622

    @stoleway thanks for your explanation

    FAR-Passed
    BEC-Passed
    REG-Passed
    AUD-Passed
    Materials: Becker+Ninja Notes/Ninja MCQ/Ninja Flashcards
    Click my name to view my LinkedIn account.

Viewing 4 replies - 1 through 4 (of 4 total)
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