independence

1) indipendence is importnt bcoz :
a- Ensures e auditor’ ability to express an unbiased opinion. This would not be e case if e auditor ws dependent eg holding shares, client constituting more than 15% income, client being a spouse etc
b- Confidence building. Since auditing is al about the confidence of users would other users be confident if the an opinion was expressed by:
– FD’s spouse
– A major shareholder
– A supplier
The above’s opinion would not increase or decrease confidence simply bcoz thier interests are dependnt on e company

2) Sadly, No. The auditors’ indipendance is not only important but fundamental. This is in line with ACCA’s rules of Profesional Conduct & IFAC Code of Ethics for Professional Accountants.
However you should know that an auditor carries out regular reviews which makes him/her aware that indipendance is about to be lost. In the light of such, safeguards & measures should be implemented to avoid loss of independence.