Which of the following statements is more closely related to independence in fact, rather than independence in appearance? multiple choice a. ownership of a financial interest in a client by an auditors’ spouse. b. the auditors’ actual state of mind and unbiased mental attitude. c. employment of an auditors’ child in a position of influence within a client. d. ownership of a financial interest in a client by an auditors’ distant relative.

The correct answer is b. The auditors’ actual state of mind and unbiased mental attitude.

Explanation:

Independence warns a mental attitude that allows to express a conclusion without influences that compromise professional judgment, allowing an auditor to act with integrity, objectivity and professional skepticism. In addition, it requires apparent independence, avoiding facts and circumstances that are so relevant that a third party with judgment and knowledgeable, appreciating all the specific facts and circumstances, will probably conclude that the integrity, objectivity or professional or skepticism of the team member Audit have been compromised.

The IFAC conceptual framework is applied in order to identify threats such as: self-interest, self-review, advocacy, familiarity and intimidation in relation to independence, assess the importance of the threats that have been identified and whether It is necessary to apply safeguards instituted by the profession or by legal provisions or safeguards in the work environment to eliminate or reduce them to an acceptable level, if it is not possible to minimize the origin of these threats, the professional can terminate the audit assignment.

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