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  • What are some examples of the familiarity threat?

    The familiarity threat is the threat that, due to a long or close relationship with a client, a member will become too sympathetic to the client’s interests or too accepting of the client’s work or product. Examples of familiarity threats include the following:

  • What is the self-interest threat?

    The self-interest threat is the threat that a member could benefit, financially or otherwise, from an interest in, or relationship with, a client or persons associated with the client. Examples of self-interest threats include the following:

  • What is the management participation threat?

    The management participation threat is the threat that a member will take on the role of client management or otherwise assume management responsibilities, such may occur during an engagement to provide non-attest (non-audit) services. A CPA should never act on behalf of management!