Ch 5 · Professional Ethics & Liabilities

📘 Core concepts

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