P7-AAA _Int

[RASIDA]

Hi,

Can anyone help me on non audit services topic, please?

[bikashp]

Hi,

Please find below the details on non audit services.

Meaning:

The term non-audit services means any professional services, except for those which are in connection of audit or a review of the financial statements which are provided by an accountant. Non-audit services include services like Taxation and Consultancy Work.

Thus in simple language Non-Audit Services includes services other than Audit or Review of financial statements.

It is commonly believed that these services involve less work, less risk and a lower level of assurance. It is also believed to be a lucrative area of business for a professional accountant. There are many arguments in favour of and against this belief.

Provision of Non-audit services has an effect on Auditors independence and therefore a prior approval of Audit committee is required when Auditors are to provide such services.
While communicating with those charged with governance regarding Auditors Independence the provision of non-audit services if any, needs to be disclosed.

Non –Audit services is a very vast topic, will appreciate if you can let me know exactly on which specific part you need help.

Sorry for late reply. Actually due to some unavoidable reasons could not make it on time.

Regards

Bikash