Final answer:
CPA independence is crucial for attest engagements. Independence can be impaired by conflicts like financial interests or familial relationships. When safeguards cannot ensure objectivity, CPAs must decline or withdraw from the engagement.
Step-by-step explanation:
In some cases, no safeguard may ensure a CPA's independence in a particular attest engagement. This is due to the requirement that Certified Public Accountants (CPAs) must maintain professional independence both in fact and in appearance when conducting an attest service.
Factors that may impair a CPA's independence include, but are not limited to, financial interests, business relationships, and familial relationships with the client. When such conflicts are identified, the CPA must evaluate the ability to remain objective and impartial. If independence cannot be adequately safeguarded, the CPA is ethically obliged to decline or withdraw from the engagement.