Читать книгу Wiley Practitioner's Guide to GAAS 2020 - Joanne M. Flood - Страница 46

The engagement partner is responsible for the independence requirements for each audit and ensuring that these requirements are met. The engagement partner should:

 Evaluate the threats to independence,

 Evaluate any breaches, and

 Take appropriate action to eliminate or reduce threats to an appropriate level. If that cannot be done, the firm may have to withdraw from the engagement.

(AU-C 220.13)

To be independent, auditors must be intellectually honest; to be recognized as independent, they must be free from any obligation to or interest in the client, its management, or its owners. For specific guidance, the auditor should look to AICPA and the state society codes of conduct and, if relevant, the requirements of the Securities and Exchange Commission (SEC) and the U.S. Department of Labor. (QC 20.FN6)