Section 338.5405. Independence rule; adoption by reference.

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An individual licensee, a firm licensee, an individual with practice privileges, or an out-of-state firm may express an opinion on financial statements of an enterprise only if the individual licensee, firm licensee, individual with practice privileges, or out- of-state firm is independent from the enterprise. For the purpose of defining the impairment of independence, the board adopts by reference the AICPA professional standards, as of June 1, 2011, pursuant to R 338.5102(1)(a).

History: 1979 AC; 1986 AACS; 1996 AACS; 1998-2000 AACS; 2003 AACS; 2007 AACS; 2013 AACS.

                    
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