Response to the following questions:
1. What types of personal loans from a financial institution are allowed by the Rules of Conduct? What is meant by normal lending procedures, terms, and requirements within this context?
2. Summarize the major differences between the AICPA's Code of Professional Conduct independence rules and the SEC's independence rules for auditors of public companies. Briefly describe why the SEC's requirements diverged from those of the AICPA in the early 2000s.