Doubts in professional ethics of CA final audit

Sushant Lohani (CHARTERED ACCOUNTANT) (1051 Points)

04 August 2010  

1)Does Clause 7  Part 1 First Schedule be applicable in the following cases and Why:

a)      A partner of firm of CAs during a TV interview handed over a biodata of his firm to the chairperson.Such biodata detailed the standing of the international firm with which the firm was associated.It also detailed the achievements of the concerned partner and his recognition as an expert in the field of taxation of the country.The chairperson read out the said biodata during the interview?

b)      X and Co,CA informed selected MNCs, who are not their clients that MR Y, the former partner in charge of taxation of one of the largest accounting firms of the world, had joined them as partner.

I agree that in a) and b) Clause 6 is applicable. But does clause 7 not apply in the above case.Plz state reasons of yes/no.

2) Which settlement is applicable right now in India (t+2) or (t+3)?