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Forensic Accounting, Forensic Techniques, and Fraud Detection Copyrighted 2001 D. Larry Crumbley, ... - page 26 / 352

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© D.L. Crumbley

Acceptable Non-audit Services (cont.)

Designing or commenting on the tax aspects of a compensation package for specific individuals or the general management staff of the audit client-for example, reviewing the applicability of antidiscrimination provisions of IRC section 132 and the reasonable compensation and incentive compensation provisions of section 162(m).

Meeting with prospective candidates for the tax director or CFO position to discuss the tax issues the company faces.

Recommending that controlling shareholders sell their stock to an ESOP to take advantage of IRC section 1042; advising a client to consider an ESOP as part of a benefits package (or,if an ESOP already exists, that a client sell additional shares to it); or recommending that an estate sell its stock in an audit client to use the provisions of IRC section 303 or to otherwise efficiently administer the estate.

Source: Sheryl Stratton, “Accounting Board Won’t Define Tax Services, But Will Inspect Them,” Tax Notes, October 20, 2003, p. 330; C. Bryan – Low, “Accounting Board to Look at Abuses in Tax Shelters,” Wall Street Journal., October 22, 2003, p. A-2.

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