Are cas allowed to engage in share trade business

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Querist : Anonymous

Querist : Anonymous (Querist)

19 October 2011 Are CAs who hold COP allowed to engage in share day trading business?

I checked the Chareterd Accountants Regulations 1988 but found no info regarding the institute's bar on share day trading.

Any reply will be highly appreciated.

praveen sisodia

praveen sisodia (Expert)

19 October 2011 See Ca regulations Ethics which clearly specifies that a member who is in practice do not involver in any other business or profession except CA practice.

Querist : Anonymous

Querist : Anonymous (Querist)

19 October 2011 Thank You for your prompt reply. Yeah I had seen the code of ethics but it was not specifically mentioned. Anyway thanks for clarifying.

praveen sisodia

praveen sisodia (Expert)

19 October 2011 A Chartered Accountant in practice cannot engage in any business or
occupation other than the profession of Chartered Accountancy -
As per terms of Clause (11) of Part I of First Schedule to the CA Act , in general, a
Chartered Accountant in practice is not permitted to engage in any business or
occupation other than the profession of Chartered Accountancy.
However, there are following exceptions to it:-
A Chartered Accountant can be a director of a company (not being a managing director or a whole time director), unless he or any of his partners is interested in such company as an auditor.

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