A former longstanding client of an accounting practice is being investigated by the tax authorities. The former client requests the assistance of the practice in representing them. The client promises that, if the outcome is favourable, he will pay a substantial fee and re-appoint the practice as his accountants in the future. (Any tax payable will be deducted from the fee.) Which TWO of the following fundamental principles are most clearly threatened from the practice's perspective?

A former longstanding client of an accounting practice is being investigated by the tax authorities. The former client requests the assistance of the practice in representing them. The client promises that, if the outcome is favourable, he will pay a substantial fee and re-appoint the practice as his accountants in the future. (Any tax payable will be deducted from the fee.) Which TWO of the following fundamental principles are most clearly threatened from the practice's perspective?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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