📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      Question

      In the First Schedule, Part I, which of the following is

      professional misconduct by a chartered accountant in practice?
      A Disclosing client information acquired in professional engagement without consent Correct Answer Incorrect Answer
      B Failing to keep client moneys in a separate bank account Correct Answer Incorrect Answer
      C Being grossly negligent in the conduct of professional duties Correct Answer Incorrect Answer
      D Soliciting clients or professional work by advertisement, circular or personal communication, save as permitted Correct Answer Incorrect Answer
      E Defalcating or embezzling money received in a professional capacity Correct Answer Incorrect Answer

      Solution

      First Schedule, Part I lists misconduct by practising CAs that is dealt with by the Board of Discipline, including soliciting clients or professional work, directly or indirectly, by circular, advertisement, personal communication or interview, except as permitted (such as responding to tenders or advertising through a permitted write-up). The other options - disclosing client information, failing to keep client money separate, gross negligence, and embezzlement - are Second Schedule items handled by the Disciplinary Committee. Hence the First Schedule, Part I misconduct is the solicitation of clients.

      Practice Next
      More Tax Laws Questions
      ask-question