Monday, November 06, 2006

One Last Chance to Do Tax Returns for Financial Executives of Public Audit Clients (but NO extensions)

The PCAOB has decided to defer Rule 3523 prohibiting PCOAB-registered audit clients from providing tax services to audit client personnel with financial oversight potential for six months. Therefore, CPA firms auditing publicly-held companies can in some situations provide these services until April 30, 2007. Nevertheless, the tax services which qualify for deferral are tricky; get legal advice (which I CANNOT give) if you are not sure whether a given client qualifies.


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