Glossary Resources Getting Started About this Course Select the correct statement regarding contingent fees: A. The PCAOB rules provide an exception to a prohibition of contingent fees when set by the courts. B. The PCAOB and SEC provide an exception for contingent fees when it involves tax services for a claim of refund where the state has a prescribed review process of the claim. C. The AICPA permits a contingent fee when representing a client who is seeking a private letter ruling from the IRS. D. The AICPA permits contingent fees for preparation of an original return for an audit client. SUBN Select the incorrect statement. Under the AICPA rules: A. An audit team member can accept gifts of the client's inventory regardless of its value. B. Gifts may be offered to an attest client if the amount is reasonable under the circumstances. C. Entertainment may be accepted from an attest client if reasonable under the circumstances. D. To be entertainment, the event must be attended by both the client and the auditor