February 3, 2020
A new Rule 216 Commission and other compensation arrangements was approved by the Board of CPA Prince Edward Island on January 30, 2020, for inclusion in the CPA Code of Professional Conduct (“CPA Code”), effective July 1, 2020.
A new Rule 216 Commission and other compensation arrangements was approved by the Board of CPA Prince Edward Island on January 30, 2020, for inclusion in the CPA Code of Professional Conduct (“CPA Code”), effective July 1, 2020. Rule 216 Payment or receipt of commissions, will be repealed effective June 30, 2020.
The following documents provide information on these changes:
CPAPEI Practice Advisory summarizes the impact of New Rule 216 Commission and other compensation arrangements, and includes a number of questions and scenarios as provided by CPA Ontario to illustrate the impact of the new Rule;
Rule 216: Definitions, Rules and Guidance; and
A Flowchart providing an overview of Rule 216 Commission and other compensation arrangements.