What consulting or nonaudit services are prohibited for auditors of public companies? What other restrictions and requirements apply to auditors when providing nonaudit services to public companies?
What consulting or nonaudit services are prohibited for auditors of public companies? What other restrictions and requirements apply to auditors when providing nonaudit services to public companies?
Chapter1: Comprehensive Cases
Section1.1: Enron Corporation
Problem 2Q
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What consulting or nonaudit services are prohibited for auditors of public companies? What other restrictions and requirements apply to auditors when providing nonaudit services to public companies?
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Step 1
Some non audit services are prohibited for the auditors of public companies. These consulting or non audit services are:
- Valuation services
- Book keeping Services
- Actuarial Services
- Internal audit outsourcing
- Financial information system implementation
- Legal or expert services that are not related to audit
- Investment banker services
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