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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Threats to professional ethics
Hello sir, I would like to ask why you have the close family and personal relationships at self-interest threat and not at the familiarity threat.
And one more question, please. Where do we refer when we say lead partner and other partners like in the familiarity threats. Who is the lead partner and who are the others?
Thank you very much in advance.
Friendships and relationships can potentially cause:
Self interest threats (you want go stay on good terms)
Familiarity (you tend to trust friends)
Intimidation (the relationship might be bullying in nature).
The lead partner is the partner in charge of the audit and who is responsible for the audit opinion. For large audits there could be additional partners to help out.
This is a fantastic answer. Thank you very much sir.