Professional Ethics

1030 views 3 replies

HI everyone,

I am a bit confused. I ve a question in Audit (Professional Ethics). Can anyone help me??

Can a CA enter into Partnership with any other non CA or member of any other Professional body for work other than practicing Chartered Accountancy???
(Professional Ethics: Clause 4 of Part1 of I schedule)

There was a case law asked in May 1998:

A practising CA Enters into partnership with his uncle for textile business. Is he guilty of professional Misconduct or not??

in compiler it is given that there are various viewpoints as to clause 4 is applicable only for practising Accountancy work or for any work other than accountancy??

plz help...thank u...

Replies (3)

https://www.knowledgebible.com/forum/showthread.php/2702-Part-1-of-First-Schedule-Clause-4

 

 

https://https://www.knowledgebible.com/forum/showthread.php/2717-Part-1-of-First-Schedule-Clause-11

GUILTY as held in this case law - 

Where a Chartered Accountant entered into partnership for export of garments without obtaining permission from the Institute. Held that he was inter alia guilty of professional misconduct under
Clause (11) of Part I of First Schedule to the Chartered Accountants Act, 1949.

(Mrs. Vimla Manchanda vs. Ashok Kumar Malik - Page 38 of Vol.IX-2A-21(4) of Disciplinary Cases – Council’s decision dated 11th to 14th September, 2002)

Under clause 4  a CA can be partner with a non CA if he is a member of another professional body like CS, ICWA, Architect .. but he is guilty for professional misconduct in this case of being partner with a uncle who is a non professional member

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