[Anonymous]

” Independence is impaired by providing to attest clients the following: a) appraisal,valuation, or actuarial services if they involve a significant degree of uncertainty”

This doesn’t make sense to me because I know of CPA firms who have partners that specialize in valuation. Can someone please explain?

[Anonymous]

I think it impairs independence if you have an audit client, and provide valuation, consulting, etc., if the services are subjective and fees could be contingent on results. Also, nothing prohibits a CPA firm from providing these mentioned services if they are not required to be independent in respect to that client, i.e. no attest services provided. Hope that helps.

[Anonymous]

What I'm asking is that if attest services are provided and the service itself requires some sort of valuation and the CPA firm uses one of their partners for the valuation, that is considered unethical?

[Author]

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