The Sarbanes-Oxley Act of 2002 does not prohibit auditors from offering tax services to audit clients.
Tax Executive › Vol. 54 Nbr. 5, September 2002
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The Sarbanes-Oxley Act of 2002 does not prohibit auditors from offering tax services to audit clients.
In their article, Auditor Independence, Sarbanes-Oxley, and Tax Services, Mark Oates and Daniel Goelzer argue that the Sarbanes-Oxley Act of 2002 significantly restricts the non-audit tax services that accountants can provide to their audit clients. See Mark A. Oates and Daniel L. Goelzer, Auditor Independence, Sarbanes-Oxley, and Tax Services, THE TAX EXECUTIVE (Sept.-Oct. 2002). Public companies are left with the implication that they should call lawyers to provide these services instead.
Messrs. Oates and Goelzer's blunt assertion that the Act "restricts an Auditor's ability to perform for Issuers a number of tax services allowed under the SEC rules" (Page 404) is incorrect: The Act does not change the tax services that accountants may offer their audit clients under the existing SEC rule. Indeed, near the end of their article, Messrs. Oates a...See the full content of this document
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