After PW India and Grant Thornton, Deloitte discontinues non-audit services to public interest entities
Deloitte said in a statement on Sunday that it will no longer offer non-audit services such as consulting, due diligence or any other consultancy services to public interest entities which are its audit clients
- Feb 17, 2020,
- Updated Dec 11, 2020 9:44 AM IST
Deloitte has said that the auditor and its network firms in India will discontinue non-audit services to clients. The Indian affiliate of Deloitte Haskins (which is a part of the Big4 audit firms) announced on Sunday that it will no longer offer non-audit services such as consulting, due diligence or any other consultancy services to public interest entities which are its audit clients.
Simply stated, the public interest firms would encompass all listed entities and all companies where public money is involved such as banks and insurance companies. Deloitte specifies public interest entities under the rules prescribed by the Institute of Chartered Accounts of India (ICAI).
"We believe this would increase the public's confidence in auditor independence and quality and will remove ambiguity in a public and business environment that demands greater clarity about our services," a Deloitte spokesperson said on Sunday.
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Deloitte has said that the auditor and its network firms in India will discontinue non-audit services to clients. The Indian affiliate of Deloitte Haskins (which is a part of the Big4 audit firms) announced on Sunday that it will no longer offer non-audit services such as consulting, due diligence or any other consultancy services to public interest entities which are its audit clients.
Simply stated, the public interest firms would encompass all listed entities and all companies where public money is involved such as banks and insurance companies. Deloitte specifies public interest entities under the rules prescribed by the Institute of Chartered Accounts of India (ICAI).
"We believe this would increase the public's confidence in auditor independence and quality and will remove ambiguity in a public and business environment that demands greater clarity about our services," a Deloitte spokesperson said on Sunday.
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