Question on compliance across companies 790

  • Hello,
    I have recently come across a problem with which I am unfamiliar. I work for a private investment company with many large name clients. I have recently been trying to get a CEO type of a company as a client and I was wondering about our various auditing procedures. His company is audited by the same company that audits my company. Essentially if I take him on as a client, his company and my company are audited by the same accounting firm. Is this a conflict of interests or in some way not in compliance with sarbanes oxley?
    I did some research and couldn’t find this particular question addressed, any comments would be extremely helpful. Thanks

  • This should not be an issue. If it were an issue, it could severly limit which banks and investment firms any public company could do business with as most are audited by one of the big 4 CPA firms. Certainly not the intent of SOX.

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