Undue familiarity

{
  "id": "MLC-T-INS-003422",
  "term": "Undue familiarity",
  "field": "Insurance and risk management",
  "definition": "A close or long-standing relationship between an auditor and a client that leaves the auditor too sympathetic to the client's interests or too ready to accept its work. Accounting ethics codes classify it as a familiarity threat to independence and objectivity, and answer it with safeguards such as rotating senior engagement staff after a set period. It is one of five recognized threats, alongside self-interest, self-review, advocacy, and intimidation.",
  "url": "https://mlchart.com/terminology/insurance/undue-familiarity/"
}