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Ethics

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Ethics

  • This topic has 3 replies, 2 voices, and was last updated 3 years ago by Kim Smith.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • October 21, 2021 at 3:31 pm #638712
    abokor
    Participant
    • Topics: 82
    • Replies: 114
    • ☆☆

    Sir, I confuse the threats coursed by overring client with taxation services.

    which tax services are not allowed and which are allowed.
    does tax service cause other threat apart form self review threat.
    and what are the save gauds to reduce the threat.

    thanks in advance.

    October 21, 2021 at 4:02 pm #638724
    Kim Smith
    Keymaster
    • Topics: 133
    • Replies: 8300
    • ☆☆☆☆☆

    Tax services comprise a broad range of services, including activities such as:
    ? Tax return preparation – is usually “routine” and based on historical information so is not usually considered a threat
    ? Tax calculations for the purpose of preparing the accounting entries – since tax liabilities appear in the SoFP there is a self-review threat. If material, this is PROHIBITED for a public interest entity. For non-PIE client will need “standard” safeguards (by which I mean separate teams and appropriate reviewer)
    ? Tax services involving valuations – if valuation reflected in financial statements is MATERIAL there is SELF-REVIEW threat.
    ? Assistance in the resolution of tax disputes – would most obviously give rise to ADVOCACY threat.

    There is also “tax planning and other advisory services” but this is a more complex area and best ignored at AA(!)

    October 21, 2021 at 5:50 pm #638736
    abokor
    Participant
    • Topics: 82
    • Replies: 114
    • ☆☆

    That’s clear, thank you.

    October 21, 2021 at 6:13 pm #638740
    Kim Smith
    Keymaster
    • Topics: 133
    • Replies: 8300
    • ☆☆☆☆☆

    My pleasure!

  • Author
    Posts
Viewing 4 posts - 1 through 4 (of 4 total)
  • The topic ‘Ethics’ is closed to new replies.

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