Final answer:
A CPA must disclose any referral fee to the client to maintain transparency, as per the professional ethics set by regulatory bodies like the AICPA.
Step-by-step explanation:
Yes, if a CPA (Certified Public Accountant) accepts a referral fee, they must disclose this to the client. This requirement for disclosure aligns with the professional ethics and standards set by regulatory bodies like the American Institute of Certified Public Accountants (AICPA). The disclosure helps maintain transparency and trust between the CPA and their clients. It is crucial that the CPA provides this information before they offer the services to which the referral relates, ensuring that clients can make fully informed decisions.