AUD Prep: In an Engagement letter, is it an Independence violation for a 'covered member' to indemnify an attest client for losses resulting from the client's own acts?

Question

In an Engagement letter, is it an Independence violation for a 'covered member' to indemnify an attest client for losses resulting from the client's own acts?

Monique Tyler · Accepted Answer

Yes!  A member/firm should be responsible for its own acts and an attest client should be responsible for its own acts.

AUD Prep

In an Engagement letter, is it an Independence violation for a 'covered member' to indemnify an attest client for losses resulting from the client's own acts?

Yes! A member/firm should be responsible for its own acts and an attest client should be responsible for its own acts.

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