code of ethics articles

Is “Zero Outstanding” of Audit Fee necessary before Signing Audit Report?

The Word of Caution and the Good News for Auditors: The auditor is now required to ensure zero outstanding of audit fee before signing current year audit report as per the Revised Code of Ethics. Legal Position as per Code of Ethics, 2019 Section 410.7 A1 A self-interest threat might be created if a significant […]...

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Posted Under: CA, CS, CMA |

Revised code of ethics & its importance in CA profession

While the revised Code retains the fundamental ethical principles from the earlier code, it covers refreshed approach and contains certain new substantially revised requirements. The part shown in requirements establish general and specific obligations to be complied with by the members, while the application material provides the context...

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Posted Under: CA, CS, CMA |

Impact of Overdue Fees (Section 410.7) of New Code of Ethics of ICAI

Impact of Overdue Fees (Section 410.7) of New Code of Ethics of ICAI All CAs celebrate 1st July as CA Day but it is also celebrated by all doctors and Agriculturists. India is a leading agri-oriented country wherein agricultural sectors continue to remain the biggest employer since ancient times. Given the cyclical nature of agriculture, ...

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Posted Under: CA, CS, CMA |

CA in practice- Impact of 15% Fees Restriction – A Simple Example

Any SMP with Gross Annual fees income of Rs. 25L and manages to get any audit assignment from a mid-sized group with fees above Rs 5L then it was easily possible prior to 30/06/2020, since such assignment was less than 40% of total fees as per earlier code which had been in force since inception. […]...

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Posted Under: CA, CS, CMA |

FAQs: Can a Practicing CA become Director in a Company?

Can a Practicing Chartered Accountant become Director in a Company? One of the most common question indeed! Q1. Can a Practicing CA become a director in a company? Yes. Q2. Is prior approval required to be obtained from Council by practicing CA to become a director in a company? Yes, in case of holding of […]...

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Posted Under: CA, CS, CMA |

NOC (Communication with previous auditor) – A tool, defense, weapon or?

What should be the correct procedure to adopt when a prospective client tells you that he wants to change his auditor and wants you to take up his work? Is NOC (no objection certificate) required from previous auditor?...

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Posted Under: CA, CS, CMA |

FAQs on ethical issues relating to GST

Q1. Whether a member in practice can engage as GST practitioner? A. Yes, a member in practice can engage as GST practitioner , as the activities to be performed by GST practitioner mentioned in CGST Act, 2017 read with CGST Rules, 2017 are within the purview of a member in practice as per the provisions of Chartered Accountants Act, 19...

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Posted Under: CA, CS, CMA |

Professional Ethics / Misconduct In Relation to CA In Practice

Professional ethics encompass the personal, organizational, and corporate standards of behavior expected by In simple words we can say that professional conduct of an individual. ...

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Posted Under: CA, CS, CMA |

13 Changes Modern Advocate need in Indian Courts

1. Dress Code Change: No doubt Indian lawyers wear power dress and we as citizens respect the dignity of it, yet mostly the black and white combination is assigned to hotel waiters & railway staff also. These reasons limitise the unique privilege to lawyer’s dress. Seldom lawyers ignore to go in functions straight from court, [&hell...

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