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Hi
From my studies I understand there are separate rules for listed companies in comparison to non listed companies.
Could you please confirm a few questions I have:
– When is an auditor allowed to carry out non-audit work, for example valuation services on a pension plan? (when its immaterial and insignificant?!)
– Am I correct in stating that an audit firm cannot prepare financial statements for listed companies unless there is an emergency?
Just a few things have confused me slightly and I wanted to get it right!
Thank you
Jemma“When is an auditor allowed to carry out non-audit work, for example valuation services on a pension plan? (when its immaterial and insignificant?!)” – yes, and ideally will have audit committee approval
“Am I correct in stating that an audit firm cannot prepare financial statements for listed companies unless there is an emergency?” – yes – threat of self-review
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