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January 2015

Letters to the editor

By Avinash Rajopadhye
Reading Time 1 mins
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The Editor,
BCA Journal

Dear Sir,

Apropos an article titled ” WHEN PROFESSIONALS HAVE TO RUN THEIR FIRMS….authored by CA. Vaibhav Manek, published in the November 2014 issue of the Journal, I would like to know how the client’s lack of knowledge or ability or time has “Fair Market Value”. I am a bit confused. This is something new as far as my knowledge goes. There can be at the most ‘fair value’ not ‘fair market value’. If we go by the author’s terminology, a question arises – does the client market his lack of knowledge or ability or time? I may be wrong in my interpretation of the term used by the author. There are several factors in practical life, which determine the value of services rendered by the professional. I know one maxim “price what we pay, value what we get”. When the professional quotes his fees he does not know the degree of client’s lack of knowledge, ability or time.

With regards,

Avinash Rajopadhye
Chartered Accountant

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