Ok sorry.
Immediate family members include spouses, spouse equvilents, and dependents.
Close relatives include siblings, parents, non dependent children.
Do other relatives such as cousins, uncles, aunts, etc.
I would assume (and I don't want to, hence my quesiton) that if I am on the audit team or a covered member, independence would be impaired if there was an audit on my cousins company or my best friends company even though my friend doesn't fall under an immediate or close relative?
What if a covered member or a member or the audit team has an aunt that owns 60% of the company we are engaged to perform an audit? What if it was a 5% interest? Is independence impaired?
