Page 414 - CA Final Audit Titanium Full Book. (With Cover Pages)
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CA Ravi Taori
Change in constitution of registered Network:
Constitution: In case of any change in the constitution of the registered Network due to entry into or exit from
the Network, the Network must communicate the change to the Institute by filing Form 'C' within 30 days from
the date of the change.
Ethical Compliance:
Prohibited Services: If one firm of the network is the statutory auditor of an entity, the associate or the said firm
directly/indirectly should not accept the internal audit or book-keeping or other professional assignments which
are prohibited for the statutory auditor firm.
Ceiling on non-audit fees: The guidelines of ceiling on non-audit fees apply to a Network. For a Network firm
doing statutory audit, it is the same as mentioned in the notification. For other firms of the same Network
collectively, it is 3 times the fee payable for carrying out the statutory audit of the same undertaking/company.
Rotation: In cases where rotation of firms is prescribed by any regulatory authority, no member firm of the
network can accept appointment as an auditor in place of any member firm of the network which is retiring.
Advertisement: The Network may advertise to the extent permitted by the Advertisement Guidelines issued by
the Institute. The firms constituting the network are permitted to use the words “Network Firms” on their
professional stationery.
Ethics: The constituent member firms of a Network and the Network itself must comply with all the Ethical
Standards prescribed by the Council.
Consent of Client:
Consent: The registration of a network with the Institute is considered a public notice of the network, and
therefore, client consent is assumed to be obtained.
Framework of Internal Byelaws of Network: (Shortcut Manage DTL Network with STREAM CaRD)
Management: Appointment of a Managing Committee from among the managing partners of the member firms
of the network, including terms and conditions for its operation.
Dispute: Procedures for dispute settlement through arbitration and conciliation.
Training: Development of training materials for network members.
Library: Maintenance of a library.
Newsletters: Issue of newsletters for staff and clients
Software: Development of software for different types of assignments.
Technical Director: Appointment of a technical director for reference.
Review: Conducting peer reviews of the member firms.
Engagement partner: Identification of a partner from any of the member firms to be responsible for the
assignment (engagement partner).
Administration: Administration of the network.
Membership fees: Contribution of membership fees to meet the cost of the network's administration.
Compensation: Determination of compensation to member firms for resources drawn from them.
Resources: Methodology for drawing resources from each member firm.
Database: Development and maintenance of databases relevant for different types of assignments.
Chapter XVI : Logo Guidelines
Logo Design: The logo features the letters 'CA' inside a rounded rectangle with a white background.
CA: The 'CA' letters are in blue, our corporate colour, symbolizing creativity, innovation, knowledge, integrity,
trust, truth, stability, and depth.
Tick Mark: An upside-down tick mark, a symbol commonly used by Chartered Accountants, is included in the
logo to represent the wisdom and value of our profession. The tick mark is green, symbolizing growth, prosperity,
harmony, and freshness.
Don’t Make Changes Members are strongly encouraged to use the logo exactly as it is, without making any
changes to the design or colours, including the white background. Rotating or tilting the logo is discouraged.
Please refer to the guidelines provided for the correct and incorrect usage of the logo.
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