Respuesta :
The concept of materiality would be least important to an auditor when considering the effects of a direct financial interest in the client on the CPA's independence.
What is CPA's independence?
In order to perform an attest service without being influenced by factors that could impair professional judgment, a member must possess independence of mind, which is defined as the mental state that enables an individual to act honorably, exercise objectivity, and engage in professional skepticism.
What is direct financial interest?
A direct financial interest is a financial interest that is directly owned by a person or entity, that person or entity controls, that person or entity has beneficial ownership of, and that person or entity does not use an investment vehicle or other intermediary to obtain.
What is a Financial Interest?
An ownership share in a debt or equity securities issued by a company, as well as the rights and duties associated with acquiring that interest, is referred to as a financial interest.
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I understand that the question you are looking for is:
The concept of materiality would be least important to an auditor when considering the
1. adequacy of disclosure of a client's illegal act.
2. discovery of weaknesses in a client's internal control structure.
3. effects of a direct financial interest in the client on the CPA's independence.
4. types of evidence to use in testing accounts receivable.
