Quick Revision for Professional Ethics-CA Act 1949

CA Act 1949 FIRST SCHEDULE Part I 1 Practice in his own name -Not = CA -Not = Partner/Employee 2 Pays/Agrees to pay 3 Accepts/Agrees to accept 4 Partnership =CA =Professional Body 5 Secures Biz Either Not = Partner/Employee Or = Means Not Open to a CA 6 Solicits Biz (C/A/I) - From another CA - Tender 7 - Advertises attainments - Designation 8 Previous Auditor (without communicating in writing) 9 Ascertain Section 225 requirements 10 Audit Fees not = f (findings) not = f (profits) except…… 11 Biz other than CA unless = General Permission = Specific Permission 12 Allows to sign Not = Member / Partner Part II 1 Pays/Agrees to pay.. Share of Salary from employment 2 Accepts/Agrees to accept Commision from…. Lawyer/broker/agent/customer Part III 1 FCA 2 Not = Info/Requirement 3 Submits False Info - Write-up - Tender - Inviting work from another CA SECOND SCHEDULE 1 Discloses Confidential Info of Client unless…….. 2 Issues Certificate/Report… (Without Examination) 3 Forecast..as if vouches for accuracy 4 Opinion on financial statement Himself /Partner/Relative = Substantial Interest 5 Material Fact 6 Material Misstatement 7 Either Not = Due Diligence Or = Negligence 8 Obtain Adequate Information for Opinion 9 Disclose in audit report…. Departure from audit procedure(GAAP) 10 Money.. - Separate Bank Account - Usage for Purposes Mentioned Part II 1 Provisions /Regulations/Guidelines (Revise Notifications) 2 Employee CA Discloses Confidential Info 3 Particulars submitted = false 4 Defalcate/Embezzle I have designed this chart in a manner that would facilitate quick revision on the exam eve Hope it serves your purpose well anurag@auditingmantras.com