Farzan Enterprises is an FMCG company. Their board consists of 4 members whereas they also have quite a few experienced senior management staff. The company finally agreed to hire A. S. Sharif & Co. (an internal audit firm). Who will decide the nature of work related to assurance and consulting services?
For Assurance Service – The nature of work will solely be decided by A. S. Sharif (an internal audit firm).
For consulting service – The nature of work will be decided as per the agreement between Farzan Enterprises (signed by the respected authority) and A. S. Sharif (the firm).