---
kind: "section"
citation: "12 C.F.R. § 621.31"
title: "12"
number: "621.31"
heading: "Non-audit services."
url: "https://uscodex.org/cfr/12/621.31"
---

# §621.31. Non-audit services.


Non-audit services are any professional services provided by a qualified public accountant during the period of an audit engagement which are not connected to an audit or review of an institution's financial statements.

- (a) A qualified public accountant engaged to conduct a Farm Credit institution's audit may not perform the following non-audit services for that institution:
  - (1) Bookkeeping,
  - (2) Financial information systems design,
  - (3) Appraisal and valuation services,
  - (4) Actuarial services,
  - (5) Internal audit outsourcing services,
  - (6) Management or human resources functions,
  - (7) Legal and expert services unrelated to the audit, and
  - (8) Advocating an institution's interests in litigation, regulatory or administrative investigations and proceedings unrelated to external audit work.
- (b) A qualified public accountant engaged to conduct a Farm Credit institution's audit may only perform non-audit services, not otherwise prohibited in this section, if the institution's audit committee pre-approves the services and the services are fully disclosed in the annual report.

## Notes

### Source

Source: 71 FR 76120, Dec. 20, 2006, unless otherwise noted.

### Authority

Authority: Secs. 5.17, 5.19, 5.22A, 8.11 of the Farm Credit Act (12 U.S.C. 2183, 2202, 2202a, 2202d, 2252, 2257a, 2279aa-11); Pub. L. 102-552, 106 Stat. 4102, 4134. Link to an amendment published at 91 FR 46706, July 24, 2026.

### Source

Source: 58 FR 48786, Sept. 20, 1993, unless otherwise noted.