The conversation between human and AI assistant.
What does 'independence in fact and appearance' mean for auditors?
How can auditors maintain their independence in appearance?
To maintain independence in appearance, auditors should avoid actions or behaviors that could give the impression of a lack of objectivity. This might involve practices like refraining from socializing with clients outside of work, disclosing any financial interests in the client, or rotating audit team members periodically to avoid over-familiarity with the client.