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Dear Tutor,
I don’t understand the differences between providing non audit services (e.g. accounting & bookkeeping, taxation, internal audit valuation of services etc) from the audit firm to the client.
Is it that none of these services can be provided to public listed companies?
And if it is NOT a public listed company, audit firms can provide these services provided separate teams?
Please inform me if my understanding is wrong. Thank you
In the UK (and that can be used as a model), these services can be supplied by auditors even to listed companies. However, the auditor has to be confident that there would be no undue influence on the audit work eg because of the level of fees, self-review, over familiarity etc.
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