The SEC has historically raised questions regarding the independence of firms that derive a significant portion of their total revenues from one

The SEC has historically raised questions regarding the independence of firms that derive a significant portion of their total revenues from one audit client or group of clients because the SEC staff believes these situations causes CPA firms to;

a) Profit excessively from a client or group of clients.

b) depend too heavily on the fees generated by the client or the clients.

c) have mutuality of interest with the client or group of clients.

d) place too heavy a burden on the client’s financial position.

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