TSS3

Profession FAQ

Accountant

The following are answers to some frequently asked questions received by the Department of Safety and Professional Services. These questions and answers are general in nature and are provided as a public service. Licensees and applicants with specific questions should refer to the Wisconsin statutes and administrative code provisions which govern their profession. In any instance in which an answer may differ from the provisions of the statutes and administrative code provisions, the latter will govern.


If a partner in a CPA firm invests in a business operation with clients of that firm, does that violate the AICPA rules of independence?

As far as the Department's rules of conduct, as long as the firm is not providing attest services to the clients with whom the credential holder is investing, or to the finance company, there is no violation of the AICPA independence rules.