Non-audit services prohibited or permitted under Sarbanes-Oxley Harry Rawlins CPAs, are engaged by DK, Inc, a public company to perform the year-end audit. A. Discuss the types of services that Harry Rawlins CPAs will not be able to perform for DK under
the Sarbanes-Oxley Act of 2002. B. Under what circumstances may Harry Rawlins CPAs perform certain non-audit services for DK, Inc under Sarbanes-Oxley Act of 2002?
A. The Sarbanes-Oxley Act of 2002 amended the Securities and Exchange Act of 1934 prohibiting an auditor from performing any of the following services for a public audit client:
Bookkeeping or other services related to the accounting records or financial statements of the audit client,
Financial information systems design and implementation,
Appraisal or valuation services, fairness opinions, or contribution-in-kind reports,
Actuarial services,
Internal audit outsourcing services,
Management functions or human resources,
Broker or dealer, investment adviser, or investment banking services, and
Legal services and expert services unrelated to the audit.
B. Tax preparation and other tax related services may be performed for DK by Harry Rawlins, CPA only if the services are approved by the audit committee and the board of directors. Harry Rawlins may also be engaged to perform audits on DK's internal controls and other attestation engagements.
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