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Ethical treats

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Ethical treats

  • This topic has 2 replies, 3 voices, and was last updated 7 years ago by mjibola.
Viewing 3 posts - 1 through 3 (of 3 total)
  • Author
    Posts
  • December 3, 2017 at 2:43 pm #419953
    vikulchik07
    Participant
    • Topics: 26
    • Replies: 12
    • ☆

    Hello!

    Can the same company (but different teams and partners) produce and audit the FS of a listed company (let’s call it company A)? And the same question if it is not a listed company A?

    Thanks in advance!

    December 3, 2017 at 3:07 pm #419960
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 10593
    • ☆☆☆☆☆

    If not a public interest company (including not listed) different teams from the same firm can product and audit.

    If a public interest company (including listed) the same firm of accountants (even if different teams) cannot both produce and audit.

    December 3, 2017 at 3:12 pm #419963
    mjibola
    Participant
    • Topics: 131
    • Replies: 135
    • ☆☆☆

    So there’s no appropriate amount of safe guard regarding preparing and auditing of FS for listed entities by the same firm of accountant. Using different partners and engagement team cannot reduce this?

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