What is an Immediate Family Member (IFM)?
For Independence purposes, an Immediate Family Member (IFM) is defined as:
What is Personal Independence?
Practically, for Deloitte, Independence means maintaining integrity and objectivity with regards to the entities that we audit. This is required for the firm, as well as all individuals who work at Deloitte – irrespective of whether your family member works in Audit or another part of our business.
There are several regulatory bodies who lay out the rules and requirements to which Deloitte (as a firm, individuals who work here and their IFMs) must adhere, in order to maintain and demonstrate Personal Independence.
Audit clients, their affiliates and any other clients for which the firm has to maintain its independence are known as “restricted entities”. At all times, Deloitte needs to ensure that its people, as well as their IFMs do not have financial and/or employment relationships with such entities.
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