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Explain the two primary threats to independence for SKM

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Question - Shelly, Kelly & Mark (SKM) are the auditors of Bass. SKM's IT consulting division has undertaken a number of accounts receivable management system implementation projects and is actively looking for opportunities to perform more of this type of work. As a result, SKM's IT consulting division is planning to submit a proposal to implement an accounts receivables management system at Mass.

Required -

(a) Identify and explain the two primary threats to independence for SKM.

(b) Outline an appropriate safeguard to address each of the threats identified above.

Reference no: EM132537008

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