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first of all thanks for that brilliant reply!!
as a safeguard to the referral arrangement between the audit firm and the third party you said that disclosure of the arrangement to the audit client would help to avoid the threat.
please tell me how would that help
is it like, since the audit client is made aware of the threat and it is up to them to take a decision now.does it mean that the audit client would now have someone to oversee the work done by the auditors like a supervisory function.P.S I am just curious to know why you close every conversation before replies r given to ur answers ?
“you said that disclosure of the arrangement to the audit client would help to avoid the threat.”
No I didn’t!
“does it mean that the audit client would now have someone to oversee the work done by the auditors like a supervisory function”
No – but the client has now been made aware that, when they take our recommendation to use Software Supply, we shall be getting a commission. It’s all part of transparency and full disclosure. Going back to F4 days, it’s the act of not making secret profits. Sure, we are allowed to make profits. But they must not be secret … they should be fully disclosed
Better?
re PS … too many students were latching on to other threads with unrelated questions of their own. Subsequent readers could therefore easily miss something on these unrelated threads because they were no interested in the original title of the original thread
Is it a problem?
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