Ch 5 · Professional Ethics & Liabilities

5 concept points · 0 formulas · 4 exam-critical points.

📘 Core concepts

• 1Schedule I & II of CA Act — Professional Misconduct categories.
• 2Disciplinary mechanism: Director (Discipline) → Disciplinary Committee → Appellate Authority.
• 3Penalties: removal of name (1 mo to 5 yrs or permanent), fine.
• 4Independence in fact & appearance; relative & beneficial interest restrictions.
• 5NOC from previous auditor before accepting; communication via RPAD or evidence of delivery.