Which of the following is a recognized threat to the independence of accountants?

Familiarity is a recognized threat to the independence of accountants because it can lead to a loss of professional skepticism and objectivity. When accountants develop personal relationships or become too close to clients, there is a risk that their judgment may be compromised. This close relationship can result in a biased perspective, where the accountant may overlook critical information or fail to challenge the client appropriately. Maintaining objectivity is crucial for accountants in order to provide impartial and accurate financial reporting. Therefore, familiarity poses a significant threat to the fundamental principle of independence, as it can cloud the accountant's ability to act without bias or undue influence.