Question
Tana Thorne works in a public accounting firm and hopes to eventually be a partner. The management of allnet company invited Thorne to prepare bid
Tana Thorne works in a public accounting firm and hopes to eventually be a partner. The management of allnet company invited Thorne to prepare bid to audit allnets financial statements. In discussing the audit fee, allnets management suggests a fee range in which the amount depends on reported profit of allnet. The higher the profit the higher will be the audit fee paid to thornes firm. Identify the parties potentially affected by this audit and the fee plan proposed. Would you recommend Thorne accept the audit fee arrangement describe some ethical considerations guiding your recommendation
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