Ch 5 · Professional Ethics & Liabilities

⭐ Important points (exam-critical)

• ⭐Public solicitation prohibited; only listing in directories permitted.
• ⭐Fee disclosure for assurance clients (>15% of total fees from one client raises threat).
• ⭐Communication with previous auditor: written; presumption of communication if RPAD acknowledgment received.
• ⭐Sec 144 Companies Act: list of non-audit services that statutory auditor cannot render.