Question about Big 4 offering audit and consultancy services.

#1

What are the regulations on an accountancy firm being able to offer advice on business strategy for a firm they are also auditing. I would have thought that this would not be allowed. Can someone confirm this or explain?

#2

Bump

#3

Bump

#4

Bump

#5

Of course accounting firms are able to give advice. That’s a major role they play. Companies not only use the big 4 because of they confidence shareholders/clients get while using them BUT ALSO because they can give excellent advice to help with client controls, prevent fraud (help make it easier to detect it) and all sorts of other things. It is up to the client to take the advice or leave it. Accountancy firms CANNOT implement anything though, only make suggestions. hope this helps!