Recent Decisions of Ethical Standards Board:

1) A “CA” in practice cannot be the Financial Advisors for Financial Institutions such as Insurance Companies, NBFCs etc.

2) A ‘CA’ cannot exercise lien over the client documents/records for non-payment of his fees.

3) It is not permissible for CA Firm to print its vision and values behind the visiting cards.

4) It is not permissible for chartered accountants in practice to take agencies of UTI, GIC or NSDL.

5) A member in practice cannot hold Customs Brokers Licence under section 146 of the Customs Act, 1962

6) A ‘CA’ who is the statutory auditor of a bank cannot accept stock audit of same/other branches of the that bank for that F.Y.

7) A CA Firm appointed as the internal auditor of a PF Trust by a Government Company cannot be appointed as its Statutory Auditor.

8) A concurrent auditor of a bank ‘X’ cannot be appointed as statutory auditor of bank ‘Y’, which is sponsored by ‘X’.

9) Permitting the use of firm name BY CLIENT, mentioning the firm as a “Knowledge Partner” or in the “Thank You” advertisement, is not permissible. 

10) A statutory auditor and tax auditor cannot be valuer of the unquoted equity shares as it would create threats to independence of the auditor.

11) The use of banner with name of CA firm is not permissible.

1) It is permissible for a member in practice to be a settler of a trust.

2) A Chartered accountant in service may appear as tax representative before tax authorities on behalf of his employer, but not on behalf of other employees of Employer.

3) Quick Response Code (QR Code) may be printed on the visiting Card by a member in practice. (It should not contain information that is not permissible to be printed on a visiting Card)

4) A CA/CA Firm can act as the internal auditor of a company & statutory auditor of its employees PF Fund under the new Companies Act (2013

5) Mentioning the firm as a “Knowledge Partner” or in the “Thank You” advertisement, is not permissible, but Individual name with prefix CA can be mentioned.

(Credit: CA Prabhavati on #Facebook).

CA Vikram S. Mathur (@10:43 Hours IST – 01-Apr-2017)