I take my test Tuesday and I am just trying to get a good hold of this
1) In the Ninja Notes it says “Covered Member's immediate family cannot own more than 5% stock” …. so I am assuming that this interest in stock is indirect and it is not material to spouse/dependent networth? I thought any direct interest would impair independence from covered member or immediate family
2) What about Close Relatives investments? I understand that if a close relative works in a “Key Position” than independence is impaired but what if a non-dependent child/sibling/parent owns 10% of stock in a client that a covered member audits, is independence impaired? or what about 2%
I found the section you are referring too. Page 7 of section VI of Ninja book. Might I suggest going back to page 6 where the paragraph starts talking about independence impairment, if you read the paragraph where it begins, it may make a little more sense. I am not sure what to say about the close relative investments, still drinking first cup of coffee, haha!
AUD - 82 BEC - NINJA in Training FAR - NINJA in Training REG - NINJA in Training
"confidence is going after Moby Dick in a rowboat and taking the tartar sauce with you" ~ Zig Ziglar