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maam in case of over dependency on fees from a client, my text states that following factors are relevant when evaluating the threat:
– Operating structure of the firm
– Whether the firm is well
established or newcan you explain why are the above two points important?
Operating structure includes, for example, how the different services are provided e.g. separate audit/tax/business advisory departments.
If it was a new firm – the first client will be 100% of revenue(!)
the second point is now crystal clear!
with re to the first one, I am still unclear ma’am how does the operating structure of client will affect the fee dependency issue?
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