Audit engagement team owns stock in same client

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Reference no: EM133209494

Question

Is it a violation of auditor independence if...

1. An audit team member's brother has a minor investment of his wealth in an audit client ?

2. A tax manager on the audit engagement team (who spends over 10 hours on the tax return for an audit client) owns stock in the same client?

Reference no: EM133209494

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