Cos bill bars non-audit ops of auditors

Audit firms may no longer be able to offer non-audit services like investment advisory and management services to companies as the government plans to prohibit such activities to check any conflict of interest, leading to a potential fraud. The move, in line with rules proposed by the European Commission, has seen the global audit and financial service providers like Deloitte and PricewaterhouseCoopers cry foul, saying the proposal is "ridiculous" and will hit their operations.

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