Helix & Company, a well-established Chartered Accountants firm, has been appointed as the statutory auditor of Titan Metals Limited, a company…

Helix & Company, a well-established Chartered Accountants firm, has been appointed as the statutory auditor of Titan Metals Limited, a company engaged in the large-scale production of alloy steel products. Titan Metals has grown remarkably over the years, supplying several million units annually to the automobile and infrastructure industries. Recently, Titan Metals set up another entity, MetalCore Innovations Pvt. Ltd., by acquiring 48% of its equity. However, as per shareholders' agreement, Titan Metals holds complete control over the composition of the Board of Directors, giving it absolute power over key financial and operating decisions. The company is currently listed on the London Stock Exchange (LSE) and is in the process of filing for listing on Indian stock exchanges. Its net worth stands at 260 crore. The company's brand ambassador, a well-known industrial influencer, promotes Titan's flagship products across global markets. Upon hearing about the efficient services provided by Helix & Company Chartered accountants, they were approached by PQR Cooperative Society to act as its statutory auditor for the upcoming financial years. The firm accepted the proposal and considered the following options regarding the fees to be charged: (i) To charge fees as percentage of Net Profits, or (ii) To charge fees of 15,000/-. Based on the above, answer the following: