Reference no: EM132839560

Problem 1: Erin, a member, provides various services for her client Cameo Appearances Corporation which require her to be independent. Erin is currently working on reviewed financial statements for the company for the year ended December 31, 20X4. On January 15, 20X5 and prior to the issuance of the report on the 20X4 financial statements, Ashley, who owns 75% of Cameo Appearances Corporation, asked Erin to be the executor of her estate when she dies. Erin is concerned whether or not serving in this capacity would impair her independence. Which of the following statements is true about Erin's independence?

A) Erin would lose her independence with regard to Cameo Appearances Corporation as of the date she accepts Ashley's offer to be the executor of her estate.
B) Erin would lose her independence upon Ashley's death and if she actually served as the executor of Ashley's estate.
C) Erin would not lose her independence at any point since the estate is not related to nor a part of the corporation.
D)The Code of Professional Conduct does not address situations where independence might be impaired in the future.