establishment of a code of conduct demonstrates acceptance of responsibility to the interests of those served by the profession. The AICPA Code of Professional Conduct derives its authority from the Bylaws of the AICPA. Statements on Accounting and Review Services are enforceable under the AICPA Code of Professional Conduct. For violations of the Code, members may be required to take remedial action or, for more serious violations, the member may be suspended or expelled.
Are the AICPA rules and the PCAOB rules the same with respect to commissions and referral fees?© BrainMass Inc. brainmass.com October 10, 2019, 8:16 am ad1c9bdddf
The Codes differ in regards to the rules with respect to referral fees and commissions. Throughout both codes and the rules and regulations of any professional organization, we generally find that even though they are based off each other or are similar, the exact wording (and therefore subsequent interpretation) will vary.
As per the AICPA in regards to commissions and referral fees, members cannot accept third party commissions or fees, but only under certain circumstances. Again, within each rule, we see the implied note of "certain circumstances," which ...
This solution discusses the AICPA and PCAOB rules in regards to referral fees and commissions. The discussion also includes a distinction as to how similar/different each organization stipulates, in this area.