Tax Advice

Lowballing
An alleged practice where auditors reduce their fees for statutory audits to attract clients, intending to compensate through highly profitable non-audit services.
Non-Audit Services
Additional services provided by audit firms to their clients beyond the traditional audit engagement, such as tax advice and consultancy. Debate exists regarding the impact of these services on auditor independence.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.