5 If the internal and external audit assignments are accepted, which of the following statements is TRUE regarding the proposed basis for the fee? As long as the total fee received from Maldini Co is less than 15% of the firms total fee income, then no safeguards are needed The client should be informed that only the internal audit fee can be based on profit after tax The fees should be based on Maldini Cos profit before tax No safeguards can be applied and this basis for fee determination should be rejected