Page 381 - CA Final Audit Titanium Full Book. (With Cover Pages)

CA Ravi Taori

Rationale
Building Confidence: Professional work cannot be secured through advertisement or solicitation. It can only
be obtained by a member gradually building confidence in his ability and integrity.
Client Satisfaction: The satisfaction of clients is the best advertisement, leading to more clients. Overzealous
advertisement can negatively impact the public esteem of the profession and disadvantage its members.
Advertisement is not the key to success in the profession. It is the quality of service that attracts and retains clients.
Independence and Respect: Practicing such restraint helps members maintain their independence of judgment
and command the respect of their prospective clients.

(CNO-PE.1160) CLARIFICATIONS OF CLAUSE 6 – (Shortcut Ca TIGER & CS RABiT are C urrent
2
Bollywood PPE managers)
C - Clients of Previous Employer | T – Tender | I – Interview | G – Greeting Cards | E – Empanelment | R –
Representation | C – Colleagues | S – Sponsorship | R – Roving Enquiries | A – Acceptance | B – Books | T –
Teaching | C – Credit | C -Centenary Celebration | B – Box Numbers | P – Press | P - Profile | E – Educational
Videos
Clients of Previous Employer
Clients of Previous Employer: Members should not advertise in a way that could be interpreted as soliciting or
offering to undertake professional work. This includes not using less open methods like circulating letters to a
small field of potential clients. Personal canvassing or canvassing for clients of a previous employer is also not
allowed.
Advertisement and note in the press.

Advertise Firm Changes: Members are allowed to advertise changes in partnerships, dissolution of a firm, or
changes in address of practice and telephone numbers. These announcements should be factual and consider the
appropriateness of the distribution area and number of insertions.
Classified Ads in ICAI Journal/Newsletter: Members can issue a classified advertisement in the
journal/newsletter of the Institute to share professional work on an assignment basis or seek partnership or
salaried employment. The ad should only contain the accountant’s contact information and social networking
sites. Factual information about experience and area of specialization required can be specified. (No firm name)
Application for Empanelment for allotment of audit and other professional work –

Empanelment: Government departments, corporations, courts, co-operative societies, banks, and similar
institutions create panels of chartered accountants for audit and professional work.
Inclusion: Members aware of such panels can request their names to be included by writing to the respective
organization.
Roving inquiries: It's inappropriate for chartered accountants to make Roving (unsolicited) inquiries or
applications for panel inclusion.
Quotation: Chartered accountants are allowed to provide fee quotes when inquiries are received from
organizations maintaining such panels. Refrain from distributing mass-produced documents, such as cyclostyled
or photocopied lists of fees for various services.
Responding to Tenders, Advertisements and Circulars:
Tender Response: Members are allowed to respond to tenders and requests for professional work, subject to
conditions issued by the Council.
Guidelines: The Council issued Guidelines No. 1-CA(7)/03/2016, which state that members should not respond
to tenders for services exclusively reserved for Chartered Accountants, such as audit and attestation services.
Exceptions: The restriction does not apply if the minimum fee for the assignment is specified in the tender
document or if the service areas are open to other professionals as well as Chartered Accountants. The "minimum
fee" should be commensurate with the size, value, volume, manpower requirement, and nature of the work.
Areas open to other Profession: The restriction is also not applicable if the services are open to other
professionals in addition to chartered accountants. For example Internal Audit

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