New Fences. The PCAOB is proposing that audit firms not be allowed to sell tax shelters to the top executives of their audit clients. Wash Post.

The proposed rules would not impose a blanket ban on tax advice, a step that some consumer advocates had advanced two years ago. Auditors still would be able to perform routine tax work, including preparing tax returns for companies. They would also be permitted to prepare tax returns for some employees of client companies but barred from providing personal tax consulting to executives responsible for the companies' financial statements.