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Sir, If we are auditors of an unlisted company and the entity ask us to provide payroll services the result of which is material to include the amount in financial statement. Should we proceed for this service as the entity is unlisted.?
If we are auditors of an listed company and the entity ask us to provide payroll services the result of which is immaterial to include the amount in financial statement. Should we proceed for this service as the entity is listed and payroll figure is immaterial?
Non-PIE – payroll is routine so can provide with safeguards (i.e. non-audit team members and appropriate reviewer).
PIE – if IMMATERIAL can provide with non-audit team personnel.
Thank you sir.
Sir, Can we provide all non-audit services to a Non-PIE even if they are material? Are is will be evaluated on some criteria?
There are no criteria that cover all NAS because of the huge range of NAS – accounting, bookkeeping, admin, valuation, tax, internal audit, IT, …..
For a non-PIE, cannot provide, for example:
– accountancy services other than those of a routine/mechanical nature
– valuation that involves significant degree of subjectivity and is materialSome things can be provided but only with safeguards:
– tax calculations for accounting entriesHave you seen in our notes Examples 1 & 2 at the end of Chapter 4?
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