Assume that an auditor makes an agreement with a client that the audit fee will be contingent

Question:

Assume that an auditor makes an agreement with a client that the audit fee will be contingent upon the number of days required to complete the engagement. Is this a violation of the Code of Professional Conduct? What is the essence of the rule of professional ethics dealing with contingent fees, and what are the reasons for the rule?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Question Posted: