If a CPA becomes executor of an estate after the president of a client dies, how does this affect independence?

When a CPA becomes the executor of an estate after the death of a client's president, this situation is considered to create a conflict of interest and can impair the CPA's independence. As an executor, the CPA assumes fiduciary responsibilities and obligations to act in the best interest of the estate and its beneficiaries. This role can complicate the CPA's relationship with the client, since the CPA may now have to make decisions that could influence the financial interests of both the estate and the client.

The independence of a CPA is essential for maintaining objectivity and impartiality in their professional responsibilities. Taking on a personal position as an executor introduces an inherent conflict, as the CPA may find themselves in circumstances where their duties to the estate conflict with their obligations to the client. The need to manage these competing interests can significantly compromise the CPA's ability to provide unbiased services to the client.

Thus, the correct assessment in this scenario is that independence is indeed impaired due to the new fiduciary responsibilities and potential conflicts of interest that arise from being an executor of an estate related to a client.