Meanwhile, majority of the respondents agreed that information on non-assurance services provided by network firms to upstream and sister entities is important. However, it is practically difficult for an audit firm to obtain such information, said ISCA.
If the amount exceeds 1 per cent, the audit firm has to apply safeguards by providing those charged with governance either a confirmation from: the audit firm's ethics and independence partner that there is no undue influence from network firms on the audit firm for its execution of audit. Such"audit-related services" would be excluded from the computation of the proportion of non-assurance services to audit fee, to better reflect the non-assurance services that could potentially affect auditor independence.
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