Final answer:
Auditor independence is not a qualitative characteristic of accounting information according to the FASB's conceptual framework. Qualitative characteristics include relevance, predictive value, and faithful representation, which involves neutrality. Timeliness is an enhancing characteristic.
Step-by-step explanation:
The question asks which of the listed options is not a qualitative characteristic of accounting information according to the Financial Accounting Standards Board (FASB) conceptual framework. The qualitative characteristics are the attributes that make the information provided in financial statements useful to users. According to the FASB's conceptual framework, the main qualitative characteristics include relevance and faithful representation. Relevance includes components such as predictive value, confirmatory value, and materiality. Faithful representation includes completeness, neutrality, and free from error.
Among the options provided:
- Timeliness is considered an enhancing qualitative characteristic that makes accounting information more useful if it is available to decision-makers in time to be effective.
- Neutrality is a component of faithful representation, which means that the information is without bias in the selection or presentation of financial data.
- Predictive value is part of the relevance characteristic, indicating that users can use the information to predict the outcomes of past, present, and future events.
- Auditor independence, however, is not itself a qualitative characteristic of accounting information but rather a requirement for ensuring the credibility and reliability of financial statements.
Therefore, the correct answer to the original question is:
b. Auditor independence.