According to the Code, which factor should NOT be taken into account when determining professional fees?

The determination of professional fees is guided by several factors that reflect the value and complexity of the services rendered. Among these factors, the outcome of a transaction or the result of the work performed should not be considered when setting fees. This is because professional fees are fundamentally based on the effort, skills, and resources utilized during the service provision, rather than the success or failure of the outcome.

Charging fees based on the results could lead to potential conflicts of interest and could impair the objectivity of the professional. For instance, if fees were contingent on the success of an audit outcome, it might incentivize the auditor to compromise their independence or professionalism in order to achieve favorable results for the client. The integrity of the auditing profession relies on consistent, impartial evaluation rather than results-driven compensation. Thus, focusing on tangible measures of effort, such as time, skill level, and training, maintains the ethical standards expected within the profession.