(a) A licensee shall not recommend or refer any product or service to a client for a commission and shall not accept a commission from a client during the period that the licensee is performing for such client any of the following services or during the period that is covered by any historical financial statements that are involved in any of the following services: (1) An audit or review of a financial statement; (2) a compilation of a financial statement if the licensee expects or might reasonably expect that a third party will use the financial statement and the licensee’s compilation report does not disclose a lack of independence; or (3) an examination of prospective financial information.

Ask a business law question, get an answer ASAP!
Thousands of highly rated, verified business lawyers.
Click here to chat with a lawyer about your rights.

(b) A licensee who is not prohibited under this section from performing services for a commission or from accepting a commission and who is paid or expects to be paid a commission shall disclose such payment or expectation to any person or entity to whom such licensee recommends or refers a product or service to which the commission relates.