Florida Administrative Code
61 - DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION
61H1 - Board of Accountancy
Chapter 61H1-21 - INDEPENDENCE, INTEGRITY, ETC
Section 61H1-21.003 - Commissions or Referral Fees
Current through Reg. 50, No. 187; September 24, 2024
(1) A certified public accountant shall not pay or accept a commission or referral fee in connection with the sale of a product or referral of any services as defined in Section 473.302(8)(a) and (c), F.S., or prohibited to non-certified public accountants as listed in Section 473.322, F.S. These services include:
(2) The certified public accountant must have an engagement letter signed by the client prior to beginning any engagement for which the certified public accountant will receive a commission. The letter must include complete details of the financial arrangements involving compensation for the services rendered.
(3) The certified public accountant must hold appropriate licenses as required.
(4) If the certified public accountant is not independent as described in Rule 61H1-21.001, F.A.C., it must be disclosed in the engagement letter. However, if the only reason for not being independent is the fact that the certified public accountant is being compensated by a commission or contingent fee then the lack of independence does not have to be disclosed.
Rulemaking Authority 473.304, 473.3205 FS. Law Implemented 473.3205 FS.
New 12-4-79, Formerly 21A-21.03, Amended 3-28-89, Formerly 21A-21.003, Amended 2-23-98, 8-16-99, 12-21-09.
