Section 290 : Independence-Audit and Review Engagements

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Structure of Section

A Conceptual Framework Approach to Independence

Networks and Network Firms

Public Interest Entities

Related Entities

Those Charged with Governance

Documentation

Engagement Period

Other Considerations

Application of the Conceptual Framework Approach to Independence

Financial Interests

Loans and Guarantees

Business Relationships

Family and Personal Relationships

Employment with an Audit Client

Temporary Staff Assignments

Recent Service with an Audit Client

Serving as a Director or Officer of an Audit Client

Long Association of Senior Personnel (Including Partner Rotation) with an Audit Client

Provision of Non-assurance Services to Audit Clients

Fees

Compensation and Evaluation Policies

Gifts and Hospitality

Actual or Threatened Litigation

Reports that Include a Restriction on Use and Distribution