A member is trying to determine if he has a direct or material indirect financial interest in an attest client. The attest client is a mutual fund company. Which of the following is evidence of a material or immaterial i
A. The member owns shares of one fund offered by the mutual fund.
B. The member owns .25% of the shares of the mutual fund company.
C. The member owns 4% of the shares of one fund offered by the mutual fund.
D. The member’s wife owns 2.5% of one fund and the member owns 2% of another fund offered by the mutual fund company.
Answer:B
A member is trying to determine if he has a direct or material indirect financial interest in an attest client. The attest client is a mutual fund company. Which of the following is evidence of a material or immaterial i
A. The member owns shares of one fund offered by the mutual fund. B. The member owns .25% of the shares of the mutual fund company. C. The member owns 4% of the shares of one fund offered by the mutual fund. D. The member’s wife owns 2.5% of one fund and the member owns 2% of another fund offered by the mutual fund company.