According to the AICPA Code of Professional Conduct, which of the following financial interests in the client during the period of the engagement impairs a CPA's independence?
a.
All direct and indirect financial interests.
b.
Only material financial interests.
c.
Only direct and material indirect financial interests.
Choice "C" is correct. Independence shall be considered to be impaired if, during the period of the professional engagement, the CPA had a direct or material indirect financial interest in the client.
Choices "a", "d", and "b" are incorrect, based on the above explanation.
