Penalties if performing a non-auditing service 267



  • What are the penalties for an auditor who performs illegal non-auditing services?



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  • SOx statutorily prohibits auditors from offering certain non-audit services to audit clients. These services include: bookkeeping, information systems design and implementation, appraisals or valuation services, actuarial services, internal audits, management and human resources services, broker/dealer and investment banking services, legal or expert services unrelated to audit services and other services the board determines by rule to be impermissible. Other nonaudit services not banned are allowed if preapproved by the audit committee.
    I haven’t seen anything that lays out clearly what the penalties for providing such a service would be.
    Is it beyond the wit of all of the regulators or law firms to produce a table that neatly summarises the penalties?



  • I wouldn’t mind seeing such a table…if anyone know of any, please let me know.


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