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ALEX: Welcome back to The Independence Report. Now,

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let’s go straight to our correspondent, Bruce, who is

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standing by outside a KPMG office. Bruce, what’s happening

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over there?

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BRUCE: Alex, reliable sources have informed me that at this

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very moment inside this KPMG office, professionals are

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working on permissible tax and advisory engagements for

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audit clients and their affiliates.

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ALEX: Very interesting. And do you have any word on how the

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firm is providing those services in a way that upholds our

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commitment to maintaining independence?

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BRUCE: Well, Alex, I’m told that professionals use what’s

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known as the Independence Non-Audit Services Portal to

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appropriately scope non-audit services for audit clients.

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It contains relevant independence guidance, including

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engagement letter templates scoped for audit clients.

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ALEX: It seems like you are a big fan of the

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Independence Non-Audit Services Portal, Bruce.

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BRUCE: I sure am, Alex. The portal also includes the “Focused

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Non-Audit Services for Audit Clients” document which

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highlights some of the more common services we can offer our

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audit clients. By using this guidance and teaming cross-functionally

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across the firm, KPMG professionals can identify

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permissible services we can provide, like tax compliance and

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ESG assessment services.

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ALEX: So using the firm’s resources found on the

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Independence Non-Audit Services Portal, and ensuring approval

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is obtained through Sentinel, allows the firm to pursue

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permissible services for audit clients and their affiliates.

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BRUCE: That’s right, Alex. But just remember even though

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certain tax and advisory services may be generally

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permissible, each service needs to be evaluated and 

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monitored to ensure compliance with the independence rules.

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ALEX: Thank you for that report, Bruce. Please keep us

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posted on any developments.

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BRUCE: Will do, Alex.

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ALEX: Stay tuned for more on The Independence Report.

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