I am negotiating an LOI for what I think is a simple business at ~$1.5M valuation.

Is QofE necessary? What would be the main difference in output / risk diligence between a lesser scoped CPA diligence?
Apart from the differences in costs and scope of work, how necessary is it in a small deal?

Some details about the business: B2C service business with all revenue coming from credit cards. Expenses are 90% rents and employees (all on 1099).

Thanks for all your help!