Practice Quiz

Forensic Accounting

Category - Professional Responsibilities and Management

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How are fee and remuneration details determined?
  1. In the Engagement letter
  2. Orally
  3. At the end of the engagement
  4. Based on market-based criterion
Explanation
Answer: A - Prior to starting the engagement, it is important to list the remuneration details in the engagement letter. This helps overcome any ambiguity later.
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