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Hello,
About a Familiarity threat as a threat as a threat to auditor’s independence,other books stress on complacency of auditors after dealing with the same client for a long time,
while others,
stress on personal relationships like relativism, friendship, previous co-working, etc.
Where should I stand?
It is not friendship or being a relation as such that is the problem, it is that friendship etc leads to complacency and interferes with professional scepticism. It also leads to self interest as the auditor might not want to upset the relationship. Abusive relationships can also exist, such as a bullying relative and, if so, intimidation problems can also arise.
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