If you look at the definition of "Approach Climb", you will probably find that it's quite hard to disregard the engine failure case!
If you have to take it into consideration... well, if you can convionce your local CAA that the chance of you suffering a single engine failure during an approach is so remote that they are happy for you not to be able to clear the OIS during a missed approach on 1 (or 2 or 3) engines - but able to clear it all engines operating - then you can get away with disregarding it.
Airmanship however might dictate otherwise
