(Know Your Ethics) Whether a member in practice will be liable if he fails to obtain sufficient information to warrant the expression of an opinion or his exceptions are sufficiently material to negate the expression of an opinion?

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(Know Your Ethics) Whether a member in practice will be liable if he fails to obtain sufficient information to warrant the expression of an opinion or his exceptions are sufficiently material to negate the expression of an opinion?

Questions › Category: CA-Final Prof Ethics › (Know Your Ethics) Whether a member in practice will be liable if he fails to obtain sufficient information to warrant the expression of an opinion or his exceptions are sufficiently material to negate the expression of an opinion?

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Jayshree Staff asked 6 years ago

Question Tags: Know Your Ethics

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Ravi Staff answered 6 years ago

Yes, as per Clause (8) of Part I of Second Schedule to the Chartered Accountants Act,1949 a member in practice shall be deemed to be guilty of professional misconduct, if he fails to obtain sufficient information to warrant the expression of an opinion or his exceptions are sufficiently material to negate the expression of an opinion.