Professional Ethics Question - help please!

hztm

Hi I am doing some practice questions for professional ethics and would appreciate any views on the following....A client has asked you to help him prepare a proposal for raising finance and wants you to agree that the fee be dependent on the outcome. The question asks for a list of things to be agreed before commencing and asks whether the payment arrangement is acceptable. I am thinking that this is not acceptable as the accountant has an interest in the outcome. Thank you for any assistance.

katsutlieff

I had to do this question recently in my mock.

I waffled something along the lines of, The fee is dependent on the outcome of the funding proposal, you are able to accept assignments on a contingent fee basis.
You can only draft the proposal, not present it or give a personal opinion on the clients financial position

On this basis you can you can freely accept this assignment.