Auditor Independence

A constant concern for the auditor is ensuring that an adequate degree of independence is maintained between oneself and attest clients. In the Auditor Independence course, we delve into the different threats to independence, as well as dozens of scenarios in which the auditor needs to be aware of the safeguards that can be used to preserve an acceptable level of independence from clients. Particular attention is paid to safeguarding independence when both attest and non-attest services are provided to clients.
Format

PDF Course

Level

Overview

Duration

2 Hours

Related Courses
Conflicts of Interest
Malpractice Issues

Course Information

Author: Steven Bragg
Course Number: ET1057

Learning Objectives
  • Describe the elements of the independence concept.
  • Specify the different types of threats to independence.
  • Describe the independence threats that can arise from a merger of audit firms.
  • Describe the manner in which independence can be applied to the affiliates of an attest client.
  • Specify how a clause in an engagement letter could trigger an independence threat.
  • Explain the nature of the various types of financial interests.
  • Describe the circumstances under which an accountant can have an account with a depository institution and not have an independence issue with it.
  • Specify how an accountant’s teaching arrangement with a local college will still allow her firm to conduct an attest engagement with the college.
  • Describe the issues to consider when deciding whether a gift could cause an independence threat.

Level: Overview
Instructional Method: QAS Self-Study
NASBA Category: Regulatory Ethics
Prerequisites: None
Advance Preparation: None
Latest Review Date: February 2025
Program Registration Requirements: Click on the Enroll button to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.
Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

AccountingTools, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.