What Is the Difference on Contingent Fees Under the PCAOB

question 47

Multiple Choice

What is the difference on contingent fees under the PCAOB rules versus the AICPA rules?

• A) Both rules allow contingent fees for an audit client if the contingency is based upon findings of government agencies.
• B) The AICPA prohibits contingent fees to an audit client.
• C) The PCAOB allows contingent fees for non-public company engagements.
• D) The PCAOB prohibits contingent fees in tax engagements performed for an audit client.

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Definitions:

Weaned

The process of gradually introducing a young mammal to what will be its adult diet and withdrawing the supply of its mother's milk.

Erogenous Pleasure

refers to the experience of sexual pleasure from stimulation of areas of the body known as erogenous zones.

Source

The origin from which something comes, such as information, materials, or energy.

Dominant

Referring to a gene that actively controls the expression of a trait.