Final answer:
A CPA can accept a commission or referral fee if they disclose it to the client, ensure the fee is reasonable, and avoid compromising their independence in audits or reviews.
Step-by-step explanation:
A CPA (Certified Public Accountant) can accept a commission or referral fee under particular circumstances. According to the American Institute of Certified Public Accountants (AICPA) Code of Professional Conduct, a CPA may accept a commission, referral fee, or other benefit for recommending products or services to clients, but only if certain conditions are met. For instance, the CPA must disclose the fee arrangement to the client, the commission must be reasonable, and the accountant must not perform audits or reviews for the client where independence is compromised. If these conditions are not met, accepting such a commission would violate professional ethical standards.
A CPA can accept a commission or referral fee for professional services when they comply with certain rules and regulations set by the American Institute of Certified Public Accountants (AICPA) and their state's board of accountancy.
According to the AICPA's Code of Professional Conduct, a CPA can accept a commission or referral fee if the client is informed in writing about the fee arrangement and consents to it.
It is important for CPAs to ensure that their fee arrangement doesn't compromise their objectivity, integrity, or independence. They should always prioritize their duty to serve the public interest and maintain their professional competence and ethical behavior.