UK: ICAS Working Group rejects ban on auditors providing non-audit services to their listed company audit clients

The Working Group established by the Institute of Chartered Accountants of Scotland to consider the issues raised by audit firms providing non-audit services to their listed company audit clients, following the publication of the Auditing Practices Board's consultation paper, has published its final report: see here (pdf).

The Working Group concluded that no benefits would be gained by banning auditors from providing non-audit services to their listed clients. The Group instead recommended greater disclosure and transparency with regard to the policy and procedures in place where the auditor provides non-audit services. The Group also proposed changes to the way in which auditor remuneration is disclosed because, in its view, the current regime has not resulted in useful information being provided.