Big 4 independence Q: joining non-audit team in position above manager but below partner/MD. Live-in partner is employed at an asset manager who is an audit client, and her only 401k fund options are funds administered by her company (my new job's audit client). Will this likely be an independence issue? Internet is mixed given it's a diversified retirement fund, unclear if her company or fund is audited from my home office. Trying to work through independence before signing but tight timeline.

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I’d call the b4 firm and get their input

likesmart

Definitely trying to work through official channels; just tight timelines between offers so may have to make a decision based on imperfect information and a hope/prayer :)

My B4 firm would require disclosure and very specific approval for the situation. We generally follow the rule that you cannot keep a person from their retirement plan. My spouse had a similar situation. When she was employed, she was allowed to participate in the plan, which was administered by a client (and we were restricted from). When she left her employer, she immediately had to move to funds that were not restricted. I assume you'll be in same boat, but ask your Independence team.

helpfullike

Thank you so much for this context and example, really appreciate it! We're escalating to get an answer from Independence early but this gives me a lot of hope. Thank you!

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Usually fine for employer sponsored 401k, especially since it’s their only options. If she quits, she will need to immediately sell though.

helpful

That's what I was hoping for; thank you for the additional data point!

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