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Project Management Accounting: Budgeting, Tracking, and Reporting Costs and Profitability, Second Edition by Lynne M. Brooks, Gary S. Stetz, Kevin R. Callahan

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Engagement Acceptance

Once you have completed the risk assessment, someone must decide whether or not to accept the project. The following questions will guide you to that decision:

  • Do you have the competency and availability/manpower to perform the engagement to the level your client is expecting?
  • Do you have any reasons to doubt your client's integrity or honesty?
  • Is the organizational structure conducive to the way you like to work?
  • Do they have the appropriate manpower for you to work with?
  • Is there anything in their accountant's report on the financial statements that you should be concerned with?
  • Is there anything in the project specific risk that makes the success of the project unlikely?
  • Will the acceptance of this engagement cause a conflict of interest with other existing or potential clients?
  • Are you concerned about being paid for your services?
  • Will you make a profit on this engagement?

As indicated earlier, you will have to answer these questions honestly and the decision is left to you.

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