Is it allowed for a CPA to share fees for a referral to another professional?

Sharing fees for a referral to another professional is generally prohibited because it can create a conflict of interest and may compromise the CPA's objectivity and independence. Professional ethics standards dictate that CPAs must maintain integrity and avoid any appearance of impropriety. Accepting or sharing referral fees can create an obligation that may impair the CPA's ability to act in the best interest of the client, fundamentally conflicting with the principle of providing unbiased and independent advice.

In most jurisdictions, ethical guidelines require that any fees or compensation arrangements be fully transparent and in alignment with professional standards. This ensures that clients are aware of any potential impacts on the advice or services they receive. Hence, the prohibition against sharing fees serves to protect the integrity of the accounting profession and maintains public trust in CPAs' roles as impartial advisors.