Separating Audit And Tax
- Topics:
- Audits,
- Sarbanes Oxley Compliance
- Source:
- Penton Media
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Overview: In the post Sarbanes-Oxley world, CFOs staring down the double barrel of new SEC auditor independence rules and heightened IRS scrutiny must decide whether their audit firm should continue to provide them with tax services. Legally, audit firms can provide a range of tax services for their audit clients, but companies are asked to carefully consider which tax services their audit firm engages in. Audit firms may not represent their audit clients in IRS and other tax audits or tax litigation, including tax court cases. The decision of which tax services a company's audit firm should provide now rests squarely with the audit committee. Read the article to know the ways of separating audit and tax.
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Format: HTML | Date: May 2003 | Pages: 6
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