An alleged practice where auditors reduce their fees for statutory audits to attract clients, intending to compensate through highly profitable non-audit services.
In the UK, a Recognized Supervisory Body (RSB) is a body recognized as supervising and maintaining the conduct and technical standards of auditors performing statutory audits.
A registered auditor is a firm or individual eligible to carry out statutory audits in any member state of the European Union, in accordance with the Eighth Company Law Directive.
