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Hi there,
Going through BPPs study material as well as past questions and the maximum fees stated in answers is 15% for listed companie (eg. BPPs Q13 Revision Kit) however I’ve noticed it’s 10% when going through OTs practice questions.
Which one is it?
“For audit clients that are public interest entities, the Code states that where total fees from the client represent more than 15% of the firm’s total fees for two consecutive years….”
BPP Study Book Pg.62
Can a tutor confirm?
Its 10% for public interest entities PIE, or listed companies, if you may,
and 15% for private companies.Consider BPPs answer, if it really is 15% then what on earth is it for private ones? 20%?! thats way too high
Everything will be more protected for PIEs because of their listed nature, and a bit relaxed for private ones, which are not even subject to statutory audit unless of a certain size
Not a tutor, but a P7 student
You can use Ask the F8 tutor forum for his answer, but i doubt he will answer differently- Topics: 0
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I read in my lectures that it’s 10% fir listed companies and 15% for private companies
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