What does 'independence in appearance' aim to achieve?

Independence in appearance aims to ensure perceived integrity and objectivity. This concept is crucial in maintaining the trust of stakeholders, such as clients, investors, and the public, in the impartiality and fairness of professionals, particularly in accounting and auditing. When professionals conduct their work, it is essential that they not only possess actual independence but also appear to be independent to others. This helps in reinforcing confidence in their findings and decisions, suggesting that their professional judgments are not influenced by relationships, biases, or conflicts of interest.

A focus on visible independence directly supports ethical practices and accountability in professional conduct, which is vital in sectors that require high levels of trust. The perception of objectivity plays a significant role in upholding the reputation of professionals and organizations.