The case of Parker’s marker
Ethics
Charles Selcer, CPA, MBA | April 2020 Footnote
Editor's note: Updated April 1, 2020
Parker Penn, CPA is the campaign treasurer for “The Committee to Elect Kris Mascarol to the Loon County Board.” The election takes place in November 2020; Parker is a partner at Quill & Penn Inc. (Q&P), a CPA firm that audits Loon County. Q&P is engaged to audit the Dec. 31, 2020, financial statements of Loon County.
Q. Does the situation impair Q&P’s independence?
A. Yes. Even though Mascarol has not been elected, Parker is campaign treasurer during the period covered by the anticipated audit engagement. Independence is impaired. (See 1.275.025.03.)
