1. (a) A licensee in public practice shall not for a commission recommend or refer to a client any product or service, or for a commission recommend or refer any product or service to be supplied by a client, or receive any other form of a commission when the licensee or the licensee’s firm also performs for that client:

   1. (1) An audit or review of a financial statement;
   2. (2) A compilation of a financial statement when the member expects, or reasonably might expect, that a third party will use the financial statement and the member’s compilation report does not disclose a lack of independence; or
   3. (3) An examination of prospective financial information.
2. (b) The prohibition in (a) above shall apply to the period in which the licensee is engaged to perform any of the services listed in (a)(1) – (3) above and to the period covered by any historical financial statements involved in such listed services.
3. (c) A licensee who is not prohibited by this section or RSA 309-B:14 from performing services for or receiving a commission and who is paid or expects to be paid a commission shall disclose that fact to any person or entity to whom the licensee recommends or refers a product or service to which the commission relates.
4. (d) This section shall not prohibit payments to individuals formerly engaged on the practice of public accounting, or payments to their heirs or estates.

Source. #1663, eff 12-17-80; ss by #2475, eff 9-13-83; ss by #3061, eff 7-18-85, EXPIRED: 7-18-91 New. #5366, eff 3-27-92; ss by #6721, INTERIM, eff 3-27-98, EXPIRED: 7-25-98 New. #6905, eff 12-4-98, EXPIRED: 12-4-06 New. #8810, INTERIM, eff 1-25-07, EXPIRED: 7-25-07 New. #9051, eff 12-27-07; ss by #10746, eff 1-1-15; ss by #14188, eff 4-5-25 (formerly Ac 507.03)