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Places his/her professional service at the
disposal of or enters into partnership with an unqualified person or
persons in a position to obtain business of the nature in which
(Cost and Management) Accountants engage by means which are not open
to a member of the Institute; |
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Allows any person to practice in his/her name as
(a Cost and Management) Accountant in practice unless such person is
also (a Cost and Management) Accountant and is in partnership with
or employed by him/her; |
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Pays or allows or agrees to pay or allows
directly or indirectly a share, commission or brokerage in the fees
or profits of his/her professional business to any person other than
a member of the Institute or a partner or a retired partner or the
legal representative or widow of a deceased partner; |
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Accepts or agrees to accept any part of the
profits of the professional work of a lawyer, income-tax,
practitioner, auctioneer, broker or other agent or any other person
other than a member of the Institute; |
|
Accepts a position as a (Cost and Management)
Accountant in practice previously held by some other member without
first communicating with him/her in writing |
|
Accepts an appointment as (a Cost and Management)
Accountant with a concern without first ascertaining from it whether
the legal requirements, if any, have been duly complied with; |
|
Accepts a position as (a Cost and Management)
Accountant in practice previously held by some other member in such
conditions as constitute under-cutting; |
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Publishes or sanctions the publication of
expressions of thanks or appreciation by clients or promotes in any
way laudatory notices with regard to professional matters; |
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Solicits clients or professional work either
directly or indirectly by circular, advertisement, personal
communication or interview or by any other means partaking of the
nature of advertisement; |
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Advertises his/her professional attainments of
services or uses any designation or expressions other than (Cost and
Management) Accountant on professional documents, visiting cards
letter heads or sign boards unless it be a degree of a university
established by law in Pakistan or recognized by the Federal
Government or a title indicating membership of the (Institute of
Cost and Management Accountants) or any other institution that has
been recognized by the Federal Government or may be recognized by
Council; |
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Allows his/her name to be inserted in any
directory, either in the main section or in classified list, whether
printed or not so as to appear in leaded type or in any matter,
which could be regarded as of an advertising character; |
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Certifies or submits in his/her
name or in the name of his/her firm a report of an
examination of cost accounting and related statements, unless the
examination of such statements has been made by him/her or by a
partner or any employee in his/her firm or by another Cost and
Management Accountant in practice; |
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Permits his/her name or the name of his/her firm
to be used in connection with an estimate of cost or earnings
contingent upon future transactions in a manner which may lead to
the belief that he/she vouches for the accuracy of the forecast; |
|
Charges or offers to charge, accepts or offers to
accept in respect of any professional employment fees which are used
on a percentage of profits or which are contingent upon the findings
or results of such employment; |
|
Engages in any business or occupation other than
the profession of cost and management accountants unless permitted
by the Council so to engage; |
| |
Provided that nothing contained herein shall
disentitle cost and management accountant from being director of a
company unless he/her or any his partner is interested in such
company as a Cost and Management Accountant in practice; |
|
Allows a person not being a member of the
Institute or a member not being his/her partner to sign his/her
behalf or on behalf of his/her firm any report of cost or pricing
statement or any other document required by his/her client; |
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Discloses information acquired in the course of
his/her professional engagement to any person other than his/her
client; without the consent of his/her client or other wise than as
required by any law for the time being in force; |
|
Expresses his/her opinion on cost or pricing
statements of any business or any enterprise in which he/she or
his/her firm or a partner in his/her firm has a substantial
interest, unless he/she discloses the interest also in his/her
report; |
|
Fails to disclose a material fact known to
him/her, which is not disclosed in a cost or pricing statement but
disclosure of which is necessary to make such statement not
misleading; |
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Fails to report a material mis-statement known to
him/her to appear in a financial statement with which he/she is
concerned in professional capacity or fails to invite attention to
any material departure from the generally accepted procedure of
costing and pricing applicable to the circumstances; |
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Is grossly negligent in the conduct of his/her
professional duties. |
|
Fails to obtain sufficient information to warrant
the expression of an opinion or his/her qualification are
sufficiently material to negate the expression of an opinion; |
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Fails to keep money of his/her client in a
separate banking account or to use such moneys for purposes for
which they are intended; |
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has been guilty of any act or default
discreditable to a member of the Institute; |
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Contravenes any of the provisions of the Act or
the Regulations made thereunder; |
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Is guilty of such other act or omission as may be
specified by the Council in this behalf, by notification in the
Gazette of Pakistan. |
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Not being a fellow member styles him/her self as
a fellow; |
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Does not supply the information called for by or
does not comply with the directions of the Council or any of its
committees. |
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Includes any statement return or form to be
submitted to the Council any particulars knowing them to be false; |
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Does not pay money he/she is ordered to pay by
the Tribunal, appointed under section 10. |
|
Adopts one or more of the practices specified in
Regulation 49. |
