Auditing: Professional Ethics 01

Basically first you should Know how can a Individual be a Chartered Accountant.

Traditional Method:-

1. CPT
2. Ipcc
3. Article-ship
4. Ca Final

Once you have cleared your CA final, you have to Cross Section 8, of Chartered Accountant Act 1949

Section 8 is nothing but Disabilities for Purpose of Membership.

It means that, Even if you have cleared all your exams with Appropriate training, you still need to prove yourself infront of Section 8, to Become a Member of ICAI. (Until you are a Member of ICAI, you cannot call yourself a CA.)

• If he has not attained the age of twenty one years at the time of his application for the entry of his name in the Register; or
• If he is of unsound mind and stands so adjudged (determined by a Judge) by a competent court; or
• If he is an undischarged insolvent; or
• If he, being a discharged insolvent, has not obtained from the court a certificate stating that his insolvency was caused by misfortune without any misconduct on his part; or
• If he has been convicted by a competent Court whether within or without India, of an offence involving moral turpitude and punishable with transportation or imprisonment or of an offence, not of a technical nature, committed by him in his professional capacity unless in respect of the offence committed he has either been granted a pardon or, on an application made by him in this behalf, the Central Government has, by an order in writing, removed the disability; or
• If he has been removed from membership of the Institute on being found on inquiry to have been guilty of professional or other misconduct;

Hence if has cleared all his/er exams with training and stands to be of sound mind, with minimum age of 21 and a solvent, he will be registered as a member of ICAI, in short, he will be called as a Chartered accountant. 

There are two Classes of Member:-

1. Who is in Practice -> The one who hold Certificate of practice. it means a Member carries on the profession of a Chartered accountant like Audit.
2.  Who are otherwise Occupied -> Taken up a Job for salary at a company.

But both are entitled to designate them-self as C.A.