Non-audit services restriction expands for auditors, extending the prohibition beyond the audit term for prescribed companies. Restriction on non-audit services for auditors and audit firms of prescribed classes of companies is expanded by amending the proviso to section 144 of the Companies Act, 2013. The substituted proviso bars such auditor or audit firm from providing, directly or indirectly, any non-audit services to the company, its holding company, or its subsidiary. The restriction also continues for three years after completion of the auditor's or audit firm's term under section 139(2).
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Non-audit services restriction expands for auditors, extending the prohibition beyond the audit term for prescribed companies.
Restriction on non-audit services for auditors and audit firms of prescribed classes of companies is expanded by amending the proviso to section 144 of the Companies Act, 2013. The substituted proviso bars such auditor or audit firm from providing, directly or indirectly, any non-audit services to the company, its holding company, or its subsidiary. The restriction also continues for three years after completion of the auditor's or audit firm's term under section 139(2).
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