If requested to perform a review
engagement for a nonpublic entity in which
an accountant has an immaterial direct
financial interest, the accountant is
a. Independent because the financial
interest is immaterial and, therefore, may
issue a review report.
b. Not independent and, therefore, may not
be associated with the financial
statements.
c. Not independent and, therefore,
may not issue a review report.
d. Not independent and, therefore, may
issue a review report, but may not issue
an auditor's opinion.
engagement for a nonpublic entity in which
an accountant has an immaterial direct
financial interest, the accountant is
a. Independent because the financial
interest is immaterial and, therefore, may
issue a review report.
b. Not independent and, therefore, may not
be associated with the financial
statements.
c. Not independent and, therefore,
may not issue a review report.
d. Not independent and, therefore, may
issue a review report, but may not issue
an auditor's opinion.