Independence and Objectivity

I cant seem to get a grasp on when you are allowed to have your expenses paid for, when not, and when the situation should be disclosed. It seems that in some questions, it would not be appropriate to accept large expenses on behalf of third parties, and in others it would be OK. Any advice on how to reason would be great…Example: A CFA charter holder is an analyst who covers Northwest, a manufacturer. Their main factory is located in a sparely inhabited region six hours away by car from the nearest airport. Northwest has its own corporate jet and a landing strip is located near the facility. When the analyst contacts Northwest’s management to gather information he is preparing on the company, the CFO invites him to visit the company’s headquarters and meet with management. The CFO offers to send Northwest’s corporate jet to pick up the analyst up from an airport near his house and return him the same evening. The analyst estimates that would require three days to make the visit using commercial travel. If the analyst accepts the offer, he: A) has violated the Codes and Standards unless he discloses the trip and payment of his travel expenses in his report on Northwest B) has not violated the Codes and Standards C) has violated the Codes and Standards unless he reimburses Northwest of the trip. The answer is B.

as location was in a remote area that would take 3 days to do independently, analyst wasn’t taking advantage of the offer to use corporate jet. if however he was in NY and the company was in Boston and they flew him out on the jet and put him up for two nights and paid all his expenses for instance, that would be taking advantage and there would be some untowardness about that situation, which might hinder independence and objectivity!

Mr. Inconsistent, have you signed up for June yet?