By Amit Borade (CA CS Final)

CAFinalAuditCodeofEthics(Fast
Revision)
TheFirstSchedule
Clause Part I
No
For Members in Practice

Part II
For Members
in Service

Part III
For all Members

Part IV
For all members
Othermisconduct
punishablewith
imprisonmentlessthan
6monthsorbeing
disreputetothe
profession

Allowingapersontopracticein
hisnameotherthanspecified

Paysorallows
shareinhis
emolumentsto
anyperson.

Notbeingfellow
actsasfellow
member

Paysoralloworagreestopayor
allowtoshareinhisfeesorprofit
ofprofessionalbusinesswithother
thanspecifiedperson.
GettingcommissionorBrokerage
fromotherthanspecifiedpersons.

Acceptsharein
Profitor
commissionfrom
otherperson.

Notsupplying
informationto
ICAI.

Enteringintopartnershipwith
otherthanspecifiedpersons.
Securingbusinessthrough
servicesofpersonotherthan
specified.
Solicitingclientthroughservices
ofpersonotherthanspecified.
Solicitingclientthrough
advertisement.
Acceptingtheauditwithoutfirst
communicatingtheprevious
auditor.
Acceptingappointmentina
companywithoutcomplying
section224&225
Chargingfeesonthebasisof%of
profitorcontingentuponfindings
Engaginghimselfintoother

Givingwrong

writeupstothe
personenquiringor
requiredtender.

4
5

6
7
8

10
11

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By Amit Borade (CA CS Final)

12

occupation
Allowinganypersontosigninhis
behalfotherthanspecified.

TheSecondSchedule
Clause Part I
No
For Members in Practice
1
Loosesconfidentialityofinformation

Part II
For all Members

Part III
For all Members

Contravenesprovisionsofthe Othermisconductif

obtainedduringthecourseofprofessional act,regulations&guidelines

punishablefor

work.

imprisonmentformore

issuedbyICAI.

thansixmonths
2
3
4

Certifiesinhisnameworkdoneby

Discloseconfidential

personsotherthanspecified.

informationinservice

Reportsasifvouchingfortheaccuracyof

Submitfalseparticularsto

theforecast.

authoritiesofICAI.

Expressopiniononfinancialstatementsof Defalcatesorembezzles
theentityinwhichhe,hispartner,orfirm

moneyreceived.

isinterested.
5

Failtodisclosematerialfactknowntohim

Failtoreportmisstatementknowntohim

toappearinfinancialstatements
7

Doesnotexerciseduediligence.

Reportingbaselessly

Departingfromgenerallyapplicableaudit

procedurewithoutdisclosingthesamein
report.
10

Failstoutilizemoneyofclientforstated
purpose.

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