I'm happy to announce that the Journal of Accountancy just published my article, "Untangling client affiliates."
In this article, you will find:
- key definitions, i.e. "affiliate" and "financial statement attest client"
- examples of several types of affiliates
- explanation of how independence rules impact client affiliates, when exceptions may apply, and the requirement to expend "best efforts"
- scenarios that illustrate each exception to the client affiliate rule
- advice on identifying and monitoring client affiliates
