I'm trying to clarify the requirement for the Management Rep. One interperetation states that "MR to be internal to the organization".
Does this mean that the MR needs to be an employee? That the MR receives a W-2 from the company?
What if you're an individual who works as a full time, self employed consultant / contractor and receives a 1099? Is immersed in every aspect of being part of the management team as the MR, as well as many other responsibilities within the company.
Would this be in compliance with the revised standard? This has always been a concern as it related to the standard. Now that it is highlighted as part of the revision, this is a question that needs additional clarification under these specifric conditions.
Thanks!
Does this mean that the MR needs to be an employee? That the MR receives a W-2 from the company?
What if you're an individual who works as a full time, self employed consultant / contractor and receives a 1099? Is immersed in every aspect of being part of the management team as the MR, as well as many other responsibilities within the company.
Would this be in compliance with the revised standard? This has always been a concern as it related to the standard. Now that it is highlighted as part of the revision, this is a question that needs additional clarification under these specifric conditions.
Thanks!