A single-partner Chartered Professional Accountant firm took on a new client in the uranium mining industry. Most of the firm’s clients operate in the retail service sector and the firm had until then never dealt with any business operating in the uranium sector. The audit fees for the new client are significant and the partner has indicated that “the staff assigned to the audit should be quickly able to learn the ins and outs of uranium and be able to perform a quality audit.”
Which Rule of Professional Conduct has most likely been violated in the following situation?
(1) Association with false and misleading information.
(2) Contingent fees.
(3) Advertising and solicitation.
(4) Competence.