The clientele of Black & Company's audit practice consists primarily of privately owned middle market...
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The clientele of Black & Company's audit practice consists primarily of privately owned middle market companies subject to AICPA independence rules only. Recently, the firm won the audit of Bee Corp., a small public company. From an independence perspective, what impact will the audit of Bee Corp, have on Black & Company? Black & Co. will have to comply with more restrictive SEC and PCAOB independence rules when providing nonaudit services to Bee Corp. O Black & Co. will have to request permission from the SEC to perform nonaudit services for Bee Corp. o Black & Co. will have to apply the conceptual framework approach when it considers providing new nonaudit services to Bee Corp. O Black & Co. will need an annual peer review that specifically evaluates its compliance with SEC independence rules
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