Prof Ethics-Schedule II

Question 1

Clause 1 of Part I of Schedule II

Answer 1

Discloses info acquired in course of his professional employment to any person other than his Client without consent of his client or otherwise than required by law

Question 2

Clause 2 of Part I of Schedule II

Answer 2

Certifies or Submits in his name/ name of firm a report of examination of FS unless done by him/partner/employee /anotherCA

Question 3

Clause 3 of Part I of Schedule II

Answer 3

Permits his name/firm name to be used in connection with estimate of earnings contingent upon future findings in manner lead to belief that he vouches for accuracy of forecast

Question 4

Clause 4 of Part I of Schedule II

Answer 4

Expresses his opinion in FS of any business in which he / his firm/partner has substantial interest

Question 5

Clause 5 of Part I of Schedule II

Answer 5

Fails to disclose a material fact, known to him, not disclosed in FS but disclosure of which is necessary in making FS not misleading

Question 6

Clause 6 of Part I of Schedule II

Answer 6

Fails to report a MM known to him to appear in FS

Question 7

Clause 7 of Part I of Schedule II

Answer 7

Does not exercise due diligence or is grossly negligent

Question 8

Clause 8 of Part I of Schedule II

Answer 8

Fails to obtain sufficient information necessary for expression of opinion or
its exceptions are sufficiently material to negate the expression of opinion

Question 9

Clause 9 of Part I of Schedule II

Answer 9

Fails to invite attention to any material departure from the GAAP

Question 10

Clause 10 of Part I of Schedule II

Answer 10

Fails to keep money of his client other than fees or remuneration or money meant to be expended in a separate banking a/c or to use such money for purposes for which they are intended within a reasonable time

Question 11

Clause 1 of Part II of Schedule II

Answer 11

Contravenes any provisions of the Act or regulations made thereunder / guidelines issued by the council

Question 12

Clause 2 of Part II of Schedule II

Answer 12

Being an employee of any co./firm/person discloses confidential info acquired in the course of his employment except as and when required by law/ permitted by employer

Question 13

Clause 3 of Part II of Schedule II

Answer 13

Includes in any info, statement , return or form to be submitted to Institute, council or any of its committees any particulars knowing them to be false

Question 14

Clause 4 of Part II of Schedule II

Answer 14

Defalcates or Embezzles money received in his professional capacity

Question 15

Clause 1 of Part III of Schedule II

Answer 15

A member of ICAI whether in practice or not deemed guilty of misconduct , civil or criminal offence punishable with imprisonment for a term > 6 months