Impair the firm independence with this client

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Reference no: EM133979977

Question

A public accounting firm, Drake CPAs, has offices in Portland and Sacramento. The Sacramento office handles all of the work for a Sacramento client, Hillary's Design. Members of Drake have several loans to or from officers of Hillary's Design. A Portland partner has loaned $5,000 to a member of the board of directors and a Sacramento professional staff person, who does no work for this client, has borrowed $3,000 from the president of this company.

Which of the loans would impair the firm's independence with this client?

Reference no: EM133979977

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