Identifying and Mitigating Threats to Independence

This text provides guidance on how to identify and document threats to independence in relation to client acceptance. It covers self-interest threats, self-review threats, advocacy threats, familiarity threats, and intimidation threats.

Questions

• What are the five types of threats to independence that are discussed in this text?
• How can safeguards be used to mitigate these threats?
• How should threats to independence be evaluated?

Answers

• The five types of threats to independence that are discussed in this text are:
• Self-interest threats
• Self-review threats
• Advocacy threats
• Familiarity threats
• Intimidation threats
• Safeguards can be used to mitigate these threats by reducing the likelihood that they will materialize or by mitigating their effects if they do materialize. Some examples of safeguards include:
• Independence policies and procedures
• Rotation of staff
• Disclosure of relationships and interests
• Threats to independence should be evaluated by considering their significance individually and collectively. If the threats are considered to be clearly insignificant, then no further action is required. However, if the threats are not clearly insignificant, then steps should be taken to mitigate them.