The Sarbanes Oxley Act has laid down restrictions on Audit Firms on taking certain categories of non-audit services in case they are the statutory auditors for the client. I have listed down the non-audit services which are prohibited under the Sarbanes Oxley Act. The services are

1. Bookkeeping and other Services - These refer to bookkeeping and other services relating to financial statements or accounting records.

2. Financial Information Systems design and implementation.

3. Appraisal and Valuation services, fairness options, contribution in kind reports etc.

4. Acturial Services

5. Internal Audit Outsourcing Services

6. Management Functions

7. Human Resources Services

8. Broker / Dealer, investment adviser, banking services

9. Legal Services

10. Expert services unrelated to Audit

11. Any other services which the PCAOB thinks as impermissible.

As you can see there a numerous non-audit services which have been listed down. Apart from the list above, an audit firm can provide non-audit services provided they have been expressly permitted by the Audit committee. There is some good news for audit firms since tax services have been allowed under the act.