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maam plsssss if you don’t mind answering one last question of mine for the day! plsss i will be very grateful to you!
What is the exact difference between familiarity and self-interest threat, I am not really concerned with their respective different examples, but more with the fundamental difference between the two threats, if you could explain that…
They are completely different:
(a) Self-interest threat – the threat that a FINANCIAL (i.e. $) or other INTEREST will inappropriately influence the professional accountant’s judgment or behavior.
(b) Familiarity threat – the threat that due to a long or close RELATIONSHIP with a client
or employer, a professional accountant will be too sympathetic to their interests or
too accepting of their work.
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