Question : From a Sarbanes Oxley perspective can a member of the Audit Committee get paid for providing advisory services

sarbanes oxley audit

Best answer:

Answer by Jason S
According to Sarbanes Oxley, auditors are prohibited from the following:
(1) bookkeeping or other services related to the accounting records or financial statements of the audit client;

(2) financial information systems design and implementation;

(3) appraisal or valuation services, fairness opinions, or contribution-in-kind reports;

(4) actuarial services;

(5) internal audit outsourcing services;

(6) management functions or human resources;

(7) broker or dealer, investment adviser, or investment banking services;

(8) legal services and expert services unrelated to the audit; and

(9) any other service that the Board determines, by regulation, is impermissible.

Any other services have to be pre-approved by the audit committee.