100%(3)3 out of 3 people found this document helpful
This preview shows page 28 - 30 out of 40 pages.
When is an accountant permitted to charge a contingent fee or conversely, when is he not? A member in public practice shall not a. Perform for a contingent fee any professional services for, or receive such a fee from a client for whomthe member or the member’s firm performs, i. an audit or review of a financial statement; or ii. a compilation of a financial statement when the member expects, or reasonably might expect,that a third party will use the financial statement and the member’s compilation report does notdisclose a lack of independence; or iii. an examination of prospective financial information; orb.Prepare an original or amended tax return or claim for a tax refund for a contingent fee for any clientThe prohibition in a. above applies during the period in which the . What is the rationale for the Contingent Fee Rule? (P78 Supplement)
Is an accountant’s spouse permitted to charge a contingent fee to one who is a client of theaccountant?A member’s spouse may provide services for a contingent fee to a client for whom the member performs aservice listed in paragraph .01a of the “Contingent Fees Rule” [1.510.001] without causing the member be in violation of the “Contingent Fees Rule” if to