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Unformatted text preview: self-interest,familiarity or
intimidation threats. The existence and significance of anythreat will depend on factors such as:
• The nature of the requested assistance; and • The role of the person to be recruited. The significance of any threat created shall be evaluated and safeguardsapplied when necessary
to eliminate the threat or reduce it to an acceptablelevel. In all cases, the firm shall not assume
management responsibilities,including acting as a negotiator on the client’s behalf, and the
hiringdecision shall be left to the client.
The firm may generally provide such services as reviewing the professionalqualifications of a
number of applicants and providing advice on theirsuitability for the post. In addition, the firm
may interview candidates andadvise on a candidate’s competence for financial accounting,
administrativeor control positions.
Audit clients that are public interest entities
290.215 A firm shall not provide the following recruiting services to an audit clientthat is a public
interest entity with respect to a director or officer of theentity or senior management in a
position to exert significant influence overthe preparation of the client’s accounting records or
the financial statementson which the firm will express an opinion:
• Searching for or seeking out candidates for such positions; and • Undertaking reference checks of prospective candidates for suchpositions. Corporate Finance Services
290.216 Providing corporate finance services such as:
78 • assisting an audit client in developing corporate strategies; • identifying possible targets for the audit client to acquire; • advising on disposal transactions; • assisting finance raising transactions; and • providing structuring advice,may create advocacy and self-review threats. The significance
of any threatshall be evaluated and safeguards applied when necessary to eliminate
thethreat or reduce it to an acceptable level. Examples of such safeguardsinclude: • Using professionals who are not members of the audit team...
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This document was uploaded on 04/03/2014.
- Spring '14