As per Part IV of First Schedule of Chartered Accountants Act, 1949, a member of the Institute, whether in practice or not, shall be deemed to be guilty of other misconduct, if he is held guilty of any civil or criminal court for an offence which is punishable with imprisonment for a term not exceeding_________months.
Correct
Incorrect
Question 2 of 25
2. Question
1 points
Category: Advanced Auditing & Professional Ethics
Mr. Z, a Chartered Accountant was invited was invited by the Chamber of Commerce to present a paper in a symposium on the issue facing Indian Leather Industry. During the course of his presentation he shared some of the vital information of his client’s business under the impression that it will help the Nation to compete with other countries at international level.
Correct
Incorrect
Question 3 of 25
3. Question
1 points
Category: Advanced Auditing & Professional Ethics
A CA in practice appearing on television on budget proposals was introduced to the viewers, on the basis of the bio-data furnished by him, as the senior most partner of M/S Tick & Tag a leading firm of CA’s established in Delhi in 1980. CA will be guilty of professional misconduct due to:
Correct
Incorrect
Question 4 of 25
4. Question
1 points
Category: Advanced Auditing & Professional Ethics
PQR & Associates, Chartered Accountants have their website and on the letterhead of the firm it is mentioned that “Visit our website: http://www.pqr.com“. In the website the nature of assignments handled, names of prominent clients and fees charged is also displayed. Answer with reference to the provisions of Chartered Accountants Act, 1949:
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Incorrect
Question 5 of 25
5. Question
1 points
Category: Advanced Auditing & Professional Ethics
S. a practicing chartered accounting gives power of attorney to an employee chartered accountant to sign reports and financial statements, on his behalf.
Correct
Incorrect
Question 6 of 25
6. Question
1 points
Category: Advanced Auditing & Professional Ethics
XYZ Associates, a Chartered Accountants Firm is having a relationship with a multi-national accounting firm in India. The ICUI required that all firms having networking relationship with any other entity need to furnish information online within the stipulated time. XYZ Associated failed to respond.
Correct
Incorrect
Question 7 of 25
7. Question
1 points
Category: Advanced Auditing & Professional Ethics
CA. Aman, a practicing Chartered Accounting, took over as the executive chairman of signora IT Ltd.on 01.04.2018. However, realizing about obtaining prior approval form the Council of the ICAI for engaging into other business, he applied to Council for permission within 10 days.
Correct
Incorrect
Question 8 of 25
8. Question
1 points
Category: Advanced Auditing & Professional Ethics
M/s LMN & Associates, a firm of Chartered Accountants responded to a tender issued exclusively for Chartered Accountants by an organisation in the area of tax audit. However, no minimum fee was prescribed in the tender document.
Correct
Incorrect
Question 9 of 25
9. Question
1 points
Category: Advanced Auditing & Professional Ethics
CA X was appointed as the Auditor of ABC Ltd. for 2018-19. Since he declined to accept the appointment, the Board of Directors appointed CA Y as the auditor in the place of CA X, which was also accepted by CA Y.
Correct
Incorrect
Question 10 of 25
10. Question
1 points
Category: Advanced Auditing & Professional Ethics
Which of the following is not an example of self-interest threats?
Correct
Incorrect
Question 11 of 25
11. Question
1 points
Category: Advanced Auditing & Professional Ethics
A professional accountant should act diligently and in accordance with applicable technical and professional standards while providing professional services. This fundamental principle is known as:
Correct
Incorrect
Question 12 of 25
12. Question
1 points
Category: Advanced Auditing & Professional Ethics
Accepting gifts or preferential treatment from a client result into:
Correct
Incorrect
Question 13 of 25
13. Question
1 points
Category: Advanced Auditing & Professional Ethics
Intimidation threats occur:
Correct
Incorrect
Question 14 of 25
14. Question
1 points
Category: Advanced Auditing & Professional Ethics
Defalcation or embezzlement of money received by a member in his professional capacity is a:
Correct
Incorrect
Question 15 of 25
15. Question
1 points
Category: Advanced Auditing & Professional Ethics
M/s. ABC, a firm of Chartered Accountants received Rs. 2 lakhs in March 2018 from a client to pay the Advance Tax. However, the firm has used that money for its own purpose and later on adjusted the same with the outstanding fee payable. M/s. ABC will be deemed to be guilty of professional misconduct
Correct
Incorrect
Question 16 of 25
16. Question
1 points
Category: Advanced Auditing & Professional Ethics
A member of the Institute who is an employee, if not exercise due diligence and is grossly negligent in the conduct of his duties, will be guilty of professional misconduct:
Correct
Incorrect
Question 17 of 25
17. Question
1 points
Category: Advanced Auditing & Professional Ethics
Mr. Z accepted the statutory audit of a sick unit-NCT Ltd., for the year ending 31.03.2018. During the course of audit, it was noticed that company’s net worth was negative for the year ended 31.03.2017 and there was also a liability of tax audit fees of 35,000 in favour of the previous auditor.
Correct
Incorrect
Question 18 of 25
18. Question
1 points
Category: Advanced Auditing & Professional Ethics
As per Clause 1 of Part I of First Schedule to the Chartered Accountants Act, 1949, a CA in Practice is deemed to be guilty of professional Misconduct if he allows any person to practice in his name as a Charted Accountant, unless such persona is also a
Correct
Incorrect
Question 19 of 25
19. Question
1 points
Category: Advanced Auditing & Professional Ethics
A member in practice shall be deemed to be guilty of professional misconduct if he accepts a position as auditor preciously held by another chartered accountant or certified auditor without first communicating with him in writing. Acceptable mode of communication for this purpose are:
Correct
Incorrect
Question 20 of 25
20. Question
1 points
Category: Advanced Auditing & Professional Ethics
A CA in practice is not entitled to engage in any other business or occupation other than the profession of accountancy except with the permission of the Council. However general permission is granted for which of the following activities:
Correct
Incorrect
Question 21 of 25
21. Question
1 points
Category: Advanced Auditing & Professional Ethics
Mr. X, A chartered Accountant in practice accepts an audit in respect of Partnership Firm, on condition that the partnership firm shares 5% of the profits of the firm for that year. On the basis on above which of the following is correct?
Correct
Incorrect
Question 22 of 25
22. Question
1 points
Category: Advanced Auditing & Professional Ethics
Mr. X acts as a registered valuer for the purposes of Direct Taxes & Duties and charges fees on basis of percentage of value of property values. Which of the following is correct?
Correct
Incorrect
Question 23 of 25
23. Question
1 points
Category: Advanced Auditing & Professional Ethics
Mr. A is CA who is working as a controller for ABV Ltd. in capacity of an employee. Which statement is true?
Correct
Incorrect
Question 24 of 25
24. Question
1 points
Category: Advanced Auditing & Professional Ethics
The specific number of tax audit assignments that an auditor, as an individual or as a partner of a firm, can accept is:
Correct
Incorrect
Question 25 of 25
25. Question
1 points
Category: Advanced Auditing & Professional Ethics
Resolution passed by the Council of ICAI, pursuant to Sec. 2(2)(iv) of Chartered Accountants Act, 1949, permits a CA in practice to render entire range of “Management Consultancy and other Services”. Which of the following is not covered within the meaning of “Management Consultancy and other Services”?
Correct
Incorrect
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