[highlightnumb]

With respect to consulting services that a member performs for an audit client, do these 2 below mean the same thing?

“Assist in developing corporate financial strategies

and

“Assist in developing corporate strategies”

Thanks in advance!

Mario Marcel, CPA

FAR. Feb 2014 76
REG. Jan 2015 79 half way there!!
BEC. Feb 2015 79 thank you God!!
AUD. Apr 20, 2015 and will be done. Hold that thought 65, 7/14/15 85!
Ok where was I? Oh thats right now I'm Done!!!!!!!!!
Ethics 92!!

"You down wit SEC?, yeah you know me!!!"

Cali Candidate

All Becker Materials, Wiley Test Bank, Ninja audio, Ninja MCQ, Ninja Notes

[taxgeek83]

Seems to me like the former would be strictly financial, while the latter could encompass both financial and operational.

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thats a good way to look at it. I guess what I am looking for is, will assisting a client in developing corporate financial strategies impair independence as you are also auditing their financial statements? The AICPA states that if a member can perform consulting services in an advisory capacity is ok and assisting in developing corporate strategies falls under this category. I just want to make sure corporate financial strategies is ok as well. Here is the list of items that will not impair independence when you are performing a non attest service. This is why i think the term “Assisting in corporate financial strategies” is ok because the below seem to fall in line with are overall financial strategies, right?

• Assist in developing corporate strategies.
• Assist in identifying or introducing the client to
possible sources of capital that meet the client’s
specifications or criteria.
• Assist in analyzing the effects of proposed transactions
including providing advice to a client during
negotiations with potential buyers, sellers, or capital
sources.
• Assist in drafting an offering document or memorandum.
• Participate in transaction negotiations in an advisory
capacity.
• Be named as a financial adviser in a client’s private
placement memoranda or offering documents..

Mario Marcel, CPA

FAR. Feb 2014 76
REG. Jan 2015 79 half way there!!
BEC. Feb 2015 79 thank you God!!
AUD. Apr 20, 2015 and will be done. Hold that thought 65, 7/14/15 85!
Ok where was I? Oh thats right now I'm Done!!!!!!!!!
Ethics 92!!

"You down wit SEC?, yeah you know me!!!"

Cali Candidate

All Becker Materials, Wiley Test Bank, Ninja audio, Ninja MCQ, Ninja Notes

[highlightnumb]

Corporate finance—consulting or
advisory. Items that won't impair independence:

• Assist in developing corporate strategies.
• Assist in identifying or introducing the client to
possible sources of capital that meet the client’s
specifications or criteria.
• Assist in analyzing the effects of proposed transactions
including providing advice to a client during
negotiations with potential buyers, sellers, or capital
sources.
• Assist in drafting an offering document or memorandum.
• Participate in transaction negotiations in an advisory
capacity.
• Be named as a financial adviser in a client’s private
placement memoranda or offering documents..

Mario Marcel, CPA

FAR. Feb 2014 76
REG. Jan 2015 79 half way there!!
BEC. Feb 2015 79 thank you God!!
AUD. Apr 20, 2015 and will be done. Hold that thought 65, 7/14/15 85!
Ok where was I? Oh thats right now I'm Done!!!!!!!!!
Ethics 92!!

"You down wit SEC?, yeah you know me!!!"

Cali Candidate

All Becker Materials, Wiley Test Bank, Ninja audio, Ninja MCQ, Ninja Notes

[Author]

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