The new generation of communication devices operating in higher frequency bands is constantly pushing the complexity of field measurements for electromagnetic compliance and the design of field probes. These compliance are to be met for both electric and magnetic fields, of which if one set is available, the other can be estimated computationally using source reconstruction algorithms. The main objective of this paper is to refine the dipole-based source reconstruction algorithms using surface equivalence principle. Compared to earlier works, the algorithm is based on a novel way of placing a single dipole per point tangentially to a fictitious surface based on surface equivalence theorem instead of multiple orthogonal dipoles per point. We also rigorously prove the existence, uniqueness, and error bounds involved in the inverse problem. The numerical results are compared with the state-of-art to demonstrate the effectiveness in obtaining accurate fields and locating the regions of the Device Under Test responsible for overshooting the interference limits.