To michael personally I believe that the investment was of material interest , an accountant will be considered not independent with respect to any person in which he, his firm or a member of his firm had, or was committed to acquire, any direct financial interest or any material indirect financial interest. Thus owning shares of stock in an entity such Koger properties is clearly financial interest in the entity. Accordingly, section of the codification of financial reporting policies states that any stock ownership in a client impairs independence, and that "materiality is not a consideration in the case of a direct financial interest