OasisLMS

Independence and you

The AICPA Code of Professional Conduct (the code) and other regulatory bodies provide guidelines for maintaining independence. As a practitioner, you need to know when independence is required and how to safeguard against threats to your independence.

You’ll review key aspects of independence, including:

• The code’s definition of independence
• Types of engagements that require independence
• The people who must maintain independence
• Independence requirements related to valuation, forensic, or other consulting services

Exploring additional independence consideration

You’ll also explore additional independence considerations, including rules set forth by regulatory bodies, such as:

• The SEC
• The PCAOB
• The Department of Labor (DOL)
• The FDIC
• The Government Accountability Office (GAO)

Learning Outcomes

• Recognize when independence is required.
• Identify the financial, family, and employment relationships that could threaten compliance with the independence rules.
• Recall the nonattest services that threaten independence.
• Recall when additional independence provisions (such as SEC, PCAOB, GAO, and DOL requirements) apply.

Key Topics

• Independence
• Relationships that threaten independence
• Nonattest services that threaten independence
• Other independence rules
• International ethics rules

Who Will Benefit

• Professionals considering focusing on valuation as a career
• Professionals in business and industry, particularly within corporate finance, seeking to increase their technical expertise in valuation
• Professionals working in public accounting or consulting firms, or both, involved in valuations related to mergers and acquisitions, litigation, fair value, and other business interests
• Professionals preparing for the Accredited in Business Valuation (ABV) credential exam