This document summarizes paragraphs 290.100-290.112 from the Handbook of the Code of Ethics for Professional Accountants regarding the application of the conceptual framework approach to independence. It describes threats to independence created by financial interests and provides examples of specific financial interests that would create threats so significant that no safeguards could reduce them to an acceptable level. These include audit team members and their immediate families having direct or material indirect financial interests in audit clients. The document also provides examples of potential safeguards to address other threats created by financial interests.