Professional Misconduct
PROFESSIONAL MISCONDUCT
By: Mrs. Surbhi Bansal
M.Com., FCA
Sec.2 (2):
Members deemed to be in practice: If he i) Engages himself in practice of accountancy, or
(ii) Offers to perform audit related services or holds himself out to the public as an accountant, or
(iii) Renders professional service or assistance in Matters of accountant interest etc., or,
(iv) Renders such other services which as per opinion of the council, to be rendered by C.A. in practice. (Mgt. consultancy service)
Explanation : (1) C.A. who is salaried employer of C.A. in practice shall be deemed to be in practice for limited purposes of training articled clerk.
(2) C.A. shall be deemed to be in practice if he, in his professional capacity (not in personal/employee’s capacity) acts as liquidator, trustee, executor, adviser & same or takes up an appointment mate by Govt. or court or other legal authority. However for this purpose his engagement shouldn’t be on a salary-cum- full time basis.
Significance of certificate of Practice:
As per judicial ruling;
(i) Once a member of ICAI appears before I.T. authorities etc. he can so appear only in his capacity as a C.A.
(ii) Thus for period of suspension, he can’t practice as I.T. practitioner even if he is having law degree.
(iii) Thus, a member of ICAI can’t have other capacity, separable from his capacity to practice as a member of the Institute.
Section 7:
A member in practice can’t use any other designation than that of a Chartered Accountant nor any other description whether in addition thereto or in substitution therefore. However they can use any other letter etc. indicating degree of other institutions.
Section 8 : Disabilities for purpose of membership :
(i) If he isn’t 21 yrs. or
(ii) If he is of unsound mind as per a competent Court, or
(iii) Undischarged insolvent, or
(iv) Discharged insolvent but hasn’t obtained
By: Mrs. Surbhi Bansal
M.Com., FCA
Sec.2 (2):
Members deemed to be in practice: If he i) Engages himself in practice of accountancy, or
(ii) Offers to perform audit related services or holds himself out to the public as an accountant, or
(iii) Renders professional service or assistance in Matters of accountant interest etc., or,
(iv) Renders such other services which as per opinion of the council, to be rendered by C.A. in practice. (Mgt. consultancy service)
Explanation : (1) C.A. who is salaried employer of C.A. in practice shall be deemed to be in practice for limited purposes of training articled clerk.
(2) C.A. shall be deemed to be in practice if he, in his professional capacity (not in personal/employee’s capacity) acts as liquidator, trustee, executor, adviser & same or takes up an appointment mate by Govt. or court or other legal authority. However for this purpose his engagement shouldn’t be on a salary-cum- full time basis.
Significance of certificate of Practice:
As per judicial ruling;
(i) Once a member of ICAI appears before I.T. authorities etc. he can so appear only in his capacity as a C.A.
(ii) Thus for period of suspension, he can’t practice as I.T. practitioner even if he is having law degree.
(iii) Thus, a member of ICAI can’t have other capacity, separable from his capacity to practice as a member of the Institute.
Section 7:
A member in practice can’t use any other designation than that of a Chartered Accountant nor any other description whether in addition thereto or in substitution therefore. However they can use any other letter etc. indicating degree of other institutions.
Section 8 : Disabilities for purpose of membership :
(i) If he isn’t 21 yrs. or
(ii) If he is of unsound mind as per a competent Court, or
(iii) Undischarged insolvent, or
(iv) Discharged insolvent but hasn’t obtained