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Governance in brief — Changes to auditor independence rules

Published on: 28 Nov 2016

Audit committees should take action now to review their policy on non-audit services provided by the external auditor. For 31 December 2016 year ends, any revisions to the policy need to have been put in place by that date, and any newly prohibited services ceased by 1 January 2017. 

This Governance in brief focuses on changes to auditor independence rules in the new Ethical Standard and explains the key considerations around prohibited services, the “70% cap” on non-audit services, plus areas for interpretation and a useful table outlining prohibited services for different types of company.


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