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The PCAOB also adopted an amendment to Rule 3523, Tax Services for Persons in Financial Reporting Oversight Roles, to remove verbiage that stipulated that firms providing tax services during the portion of the audit before the professional engagement period are not independent of the audit client.
to describe in writing to the audit committee all relationships between the firm or any of its affiliates and the issuer or persons in a financial reporting oversight role at the issuer that may reasonably be thought to bear on the firm's independence.
Although most tax services continue to be allowable following the general precedent of the SEC rules, rules 3522 and 3523 significantly restrict specific types of tax services--those involving confidential or aggressive tax transactions, and personal services provided to a person in a financial reporting oversight role at the audit client.
Provide tax services to certain members of management (and immediate family members) who serve in financial reporting oversight roles at an audit client.