An accounting firm can lawfully perform both auditing and non-auditing services for the same company at the same time because the firm could otherwise be exposed to potentially massive liability.

Question

Quizplus · Accepted Answer

Performing both auditing and non-auditing services for the same company can create a conflict of interest, compromising the auditor's independence. Regulations such as the Sarbanes-Oxley Act in the U.S. restrict such practices to ensure audit integrity.

An Accounting Firm Can Lawfully Perform Both Auditing and Non-Auditing