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| Hickory Inc. is a small manufacturer. Its office building, plant, and warehouse are all located in Zena, Ohio. William Cream is the principal owner and president of Hickory.Hickory is not a publicly held (issuer) corporation. The primary uses of the financial statements are for its fifteen shareholders and for bank credit purposes. Hickory’s financial statements have never been audited or reviewed.On July 18, year 1, William Cream hired the CPA firm of Part & Co. to audit Hickory’s financial statements for the year ended December 31, year 1. Part & Co. has offices in Cleveland, where the partner in charge of the engagement practices, and Chicago.In order for Part & Co. to be considered independent with respect to the Hickory audit, which of the following individuals would most likely be permitted to own an immaterial direct financial interest in Hickory? A. Professional employees at the Chicago office. B. Professional managers that provide ten hours of nonattest services to Hickory. C. None of the professional employees or partners at either office. D. Professional employees and partners at the Cleveland office. |