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Institutional Ethical Guidelines

Last Updated: 10 Oct 2026Version 2

Institutional Ethical Guidelines are designed to ensure that individuals in professional practices on White Collar Professional adhere to high standards of Integrity, Objectivity, Confidentiality, and Professional Behavior, maintaining public trust. These guidelines help maintain public trust and confidence in the accounting and legal professions. While the specific guidelines may vary slightly between jurisdictions, here are some common ethical principles expected to be followed:


General Ethical Principles

  1. 1. Integrity: Professionals are expected to be honest and straightforward in all professional and business relationships. They should act with integrity and avoid any conduct that may discredit the profession.
  2. 2. Objectivity: Professionals should not allow bias, conflicts of interest, or undue influence to compromise their professional judgment. They should provide objective and independent advice to clients and exercise professional skepticism.
  3. 3. Professional Competence and Due Care: Professionals should maintain professional knowledge and skill at the highest level to ensure the quality of their work. They should perform their professional duties with due care, diligence, and professional skepticism.
  4. 4. Confidentiality: Professionals should respect the confidentiality of information acquired during the course of their work and should not disclose such information without proper authorization unless there is a legal or professional duty to do so. They should also take appropriate measures to prevent unauthorized access to confidential information.
  5. 5. Professional Behavior: Professionals should comply with relevant laws and regulations and avoid any action that may bring disrepute to the profession. They should not knowingly engage in any illegal or unethical activity. They should also respect the rights and dignity of others and maintain a professional demeanor in all their professional and business relationships. Anti-bribery policies are strictly enforced.
  6. 6. Independence: Professionals should maintain independence in appearance and in fact when providing professional services. They should not allow any relationship or circumstance to compromise their objectivity and professional judgment.

These guidelines are meant to provide a general overview of the ethical principles that Chartered Accountants, Company Secretaries, Cost and Work Accountants and Advocates are expected to uphold. It is important for individual professionals to consult the specific ethical codes and guidelines applicable in their jurisdiction for a more detailed understanding of their professional obligations. Following are the ethical codes of conduct of different institutes of professionals.


Institute of Chartered Accountants of India (ICAI)

As a Chartered Accountant, upholding the highest standards of ethics and professional conduct is of paramount importance. Chartered Accountants must uphold the CA Act, 1949. The Ethical Code of Conduct serves as a guiding framework that outlines the principles and values that all Chartered Accountants must adhere to in their professional practice. This code sets forth the expectations and responsibilities to maintain integrity, objectivity, confidentiality, and professional competence. It serves as a constant reminder of the ethical obligations that Chartered Accountants must uphold while serving clients, employers, and the public interest.

As per the Chartered Accountants Act, 1949, the Code of Ethics is divided into two Schedules as follows:


FIRST SCHEDULE


PART I: Professional Misconduct In Relation To Chartered Accountants In Practice

A Chartered Accountant in practice shall be deemed to be guilty of professional misconduct if he:

(1) Allows any unauthorized person to practice in his name as a Chartered Accountant unless such person is also a Chartered Accountant in practice and is in partnership with or employed by him;

(2) Pays or allows or agrees to pay or allow, directly or indirectly, any share, commission, or brokerage in the fees or profits of his professional business, to any person other than a member of the Institute or a partner or a retired partner or the legal representative of a deceased partner, or a member of any other professional body;

(3) Accepts or agrees to accept any part of the profits of the professional work of a person who is not a member of the Institute;

(4) Enters into partnership, in or outside India, with any person other than a Chartered Accountant in practice;

(5) Secures, either through the services of a person who is not an employee of such Chartered Accountant or who is not his partner or by means which are not open to a Chartered Accountant, any professional business;

(6) Solicits clients or professional work either directly or indirectly by circular, unapproved advertisement, personal communication or interview or by any other means;

(7) Advertises his professional attainments or services, or uses any designation or expressions other than Chartered Accountant on professional documents, visiting cards, letterheads, or sign boards;

(8) Accepts a position as auditor previously held by another Chartered Accountant or a certified auditor without first communicating with him in writing;

(9) Accepts an appointment as auditor of a company without first ascertaining from it whether the requirements of Section 225 of the Companies Act, 1956 in respect of such appointment have been duly complied with;

(10) Charges or offers to charge, accepts or offers to accept in respect of any professional employment, contingent fees which are based on a percentage of profits or which are contingent upon the findings, or results of such employment;

(11) Engages in any business or occupation other than the profession of Chartered Accountant unless permitted by the Council to engage;

(12) Allows a person not being a member of the Institute in practice, or a member not being his partner to sign on his behalf or on behalf of his firm, any balance sheet, profit and loss account, report, or financial statements.


PART II: Professional Misconduct In Relation To Members Of The Institute In Service

A member of the Institute (other than a member in practice) shall be deemed to be guilty of professional misconduct, if he being an employee of any company, firm, or person:

(1) Pays or allows or agrees to pay directly or indirectly to any person any share in the emoluments of the employment undertaken by him;

(2) Accepts or agrees to accept any part of fees, profits, or gains from a lawyer, a Chartered Accountant, or broker engaged by such company, firm or person agent or customer of such company, firm, or person by way of cuts, commission or gratification.


PART III: Professional Misconduct In Relation To Members Of The Institute Generally

A member of the Institute, whether in practice or not, shall be deemed to be guilty of professional misconduct, if he:

(1) Not being a Fellow of the Institute, acts as a Fellow of the Institute;

(2) Does not supply the information called for, or does not comply with the requirements asked for, by the Institute, Council or any of its Committees;

(3) While inviting professional work from another Chartered Accountant or while responding to tenders or enquiries or while advertising through a write-up, gives falsified information or information knowing it to be false.


PART IV: Other Misconduct In Relation To Members Of The Institute Generally

A member of the Institute, whether in practice or not, shall be deemed to be guilty of other misconduct if he:

(1) Is held guilty by any civil or criminal court for an offense which is punishable with imprisonment for a term exceeding six months;

(2) In the opinion of the Council, brings disrepute to the profession or the Institute as a result of his action whether or not related to his professional work.


Institute of Company Secretaries of India (ICSI)

Company Secretaries must align with transparency and compliance standards. As Company Secretaries play a vital role in maintaining transparency, integrity, and compliance, this code serves as a compass to guide our professionals in upholding the highest standards of professionalism and ethical behavior. It outlines the expectations, responsibilities, and values that every Company Secretary should adhere to while fulfilling their duties.

The Code of Ethics is bifurcated among two Schedules as listed below:


THE FIRST SCHEDULE


PART I: Professional Misconduct In Relation To Company Secretaries In Practice

A Company Secretary in practice shall be deemed to be guilty of professional misconduct if he:

(1) Allows any unauthorized person to practice in his name as a Company Secretary unless such person is also a Company Secretary in practice and is in partnership with or employed by him;

(2) Pays or allows or agrees to pay or allow, directly or indirectly, any unauthorized profit-sharing, commission, or brokerage in the fees or profits of his professional business;

(3) Accepts or agrees to accept any part of the profits of the professional work of a person who is not a member of the Institute;

(4) Enters into partnership, in or outside India, with any person other than a Company Secretary in practice;

(5) Secures, either through the services of a person who is not an employee of such Company Secretary or who is not his partner or by means which are not open to a Company Secretary, any professional business;

(6) Solicits clients or professional work illegally, either directly or indirectly, by circular, advertisement, personal communication or interview or by any other means;

(7) Advertises his professional attainments or services, uses any designation or expressions other than Company Secretary on professional documents, visiting cards, letterheads, or sign boards;

(8) Accepts a position as a Company Secretary in practice previously held by another Company Secretary in practice without first communicating with him in writing;

(9) Charges or offers to charge, accepts or offers to accept, in respect of any professional employment, fees which are based on a percentage of profits or which are contingent upon the findings, or result of such employment;

(10) Engages in any business or occupation other than the profession of Company Secretary unless permitted by the Council so to engage;

(11) Allows a person not being a member of the Institute in practice, or a member not being his partner to sign on his behalf or on behalf of his firm, anything which he is required to certify as a Company Secretary; or any other statements relating thereto.


PART II: Professional Misconduct In Relation To Members Of The Institute In Service

A member of the Institute (other than a member in practice) shall be deemed to be guilty of professional misconduct, if he, being an employee of any company, firm, or person:

(1) Pays or allows or agrees to pay, directly or indirectly, to any person any share in the emoluments of the employment undertaken by him;

(2) Accepts or agrees to accept any part of fees, profits, or gains from a lawyer, a Company Secretary, or broker engaged by such company, firm or person or agent, or customer of such company, firm, or person by way of commission or gratification.


PART III: Professional Misconduct In Relation To Members Of The Institute Generally

A member of the Institute, whether in practice or not, shall be deemed to be guilty of professional misconduct if he:

(1) Not being a Fellow of the Institute, acts as a Fellow of the Institute;

(2) Does not supply the information called for, or does not comply with the requirements asked for, by the Institute, Council, or any of its Committees;

(3) While inviting professional work from another Company Secretary or while responding to tenders or enquiries or while advertising through a write-up, gives information knowing it to be false.


PART IV: Other Misconduct In Relation To Members Of The Institute Generally

A member of the Institute, whether in practice or not, shall be deemed to be guilty of other misconduct, if:

(1) He is held guilty by any civil or criminal court for an offense which is punishable with imprisonment for a term not exceeding six months;

(2) In the opinion of the Council, he brings disrepute to the profession or the Institute as a result of his action whether or not related to his professional work.


THE SECOND SCHEDULE


PART I: Professional Misconduct In Relation To Company Secretaries In Practice

A Company Secretary in practice shall be deemed to be guilty of professional misconduct if he:

(1) Discloses information acquired in the course of his professional engagement to any person other than his client so engaging him, without the consent of his client, or otherwise than as required by any law for the time being in force;

(2) Certifies or submits in his name, or in the name of his firm, a report of an examination of the matters relating to Company Secretarial practice and related statements unless the examination of such statements has been made by him or by a partner or an employee in his firm or by another Company Secretary in practice;

(3) Permits his name or the name of his firm to be used in connection with any report or statement contingent upon future transactions in a manner that may lead to the belief that he vouches for the accuracy of the forecast;

(4) Expresses his opinion on any report or statement given to any business or enterprise in which he, his firm, or a partner in his firm has a substantial interest;

(5) Fails to disclose a material fact known to him in his report or statement but the disclosure of which is necessary in making such report or statement;

(6) Fails to report a material misstatement known to him and with which he is concerned in a professional capacity;

(7) Does not exercise due diligence, or is grossly negligent in the conduct of his professional duties;

(8) Fails to obtain sufficient information which is necessary for the expression of an opinion or its exceptions are sufficiently material to negate the expression of an opinion;

(9) Fails to invite attention to any material departure from the generally accepted procedure relating to the secretarial practice;

(10) Fails to keep money of his client other than fees or remuneration or money meant to be expended in a separate banking account or to use such money for purposes for which they are intended within a reasonable time.


PART II: Professional Misconduct In Relation To Members Of The Institute Generally

A member of the Institute, whether in practice or not, shall be deemed to be guilty of professional misconduct if he:

(1) Contravenes any of the provisions of this Act or the regulations made thereunder or any guidelines issued by the Council;

(2) Being an employee of any company, firm, or person, discloses confidential employer data or information acquired in the course of his employment, except as and when required by any law for the time being in force or except as permitted by the employer;

(3) Includes in any information, statement, return or form to be submitted to the Institute, Council, or any of its Committees, any particulars knowing them to be false;

(4) Defalcates or embezzles money received in his professional capacity.


PART III: Other Misconduct In Relation To Members Of The Institute Generally

A member of the Institute, whether in practice or not, shall be deemed to be guilty of other misconduct if he is held guilty by any civil or criminal court for an offence which is punishable with imprisonment for a term exceeding six months.


Institute of Cost and Work Accountants of India (ICWAI)

Cost Accountants must uphold standards in financial management and decision-making. As Cost and Work Accountants play a crucial role in financial management, cost control, and decision-making processes, this code outlines the standards and expectations that every professional should uphold. By adhering to this code, we reinforce our commitment to integrity, objectivity, and ethical practices, ensuring that our actions align with the highest standards of professional conduct.

The Code of Ethics is bifurcated among two Schedules:


THE FIRST SCHEDULE


PART I: Professional Misconduct In Relation To Cost Accountants In Practice

A Cost Accountant in practice shall be deemed to be guilty of professional misconduct, if he:

(1) Allows any unauthorized person to practice in his name or unauthorized use of name as a Cost Accountant unless such person is also a Cost Accountant in practice and is in partnership with or employed by him;

(2) Pays or allows or agrees to pay or allow, directly or indirectly, any share, commission or brokerage in the fees or profits of his professional business, to any person other than a member of the Institute or a partner...

(3) Accepts or agrees to accept any part of the profits of the professional work of a person who is not a member of the Institute;

(4) Enters into partnership, in or outside India, with any person other than a Cost Accountant in practice;

(5) Secures, either through the services of a person who is not an employee of such Cost Accountant or who is not his partner or by means which are not open to a Cost Accountant, any professional business;

(6) Solicits clients or professional work, either directly or indirectly, by circular, advertisement, personal communication or interview or by any other means;

(7) Advertises his professional attainments or services, or uses any designation or expressions other than Cost Accountant on professional documents, visiting cards, letter heads or sign boards;

(8) Accepts a position as Cost Accountant previously held by another Cost Accountant in practice without first communicating with him in writing;

(9) Charges or offers to charge, accepts or offers to accept in respect of any professional employment, contingent fee charging based on a percentage of profits or which are contingent upon the findings or results of such employment;

(10) Engages in any business or occupation other than the profession of Cost Accountant unless permitted by the Council so to engage;

(11) Allows a person not being a member of the Institute in practice, or a member not being his partner to sign on his behalf or on behalf of his firm, any cost or pricing statements or any other statements relating thereto.


PART II: Professional Misconduct In Relation To Members Of The Institute In Service

A member of the Institute (other than a member in practice) shall be deemed to be guilty of professional misconduct, if he being an employee of any company, firm or person:

(1) Pays or allows or agrees to pay, directly or indirectly, to any person any share in the emoluments of the employment undertaken by him;

(2) Accepts or agrees to accept any part of fees, profit or gains from a lawyer, a Cost Accountant or broker engaged by such company, firm or person or agent or customer of such company, firm or person by way of commission or gratification.


PART III: Professional Misconduct In Relation To Members Of The Institute Generally

A member of the Institute, whether in practice or not, shall be deemed to be guilty of professional misconduct, if he:

(1) Not being a Fellow of the Institute acts as a Fellow of the Institute;

(2) Does not supply the information called for, or does not comply with the requirements asked for by the Institute, Council or any of its Committees;

(3) While inviting professional work from another Cost Accountant or while responding to tenders or enquiries or while advertising through a write up, gives information knowing it to be false.


PART IV: Other Misconduct In Relation To Members Of The Institute Generally

A member of the Institute, whether in practice or not, shall be deemed to be guilty of other misconduct, if:

(1) He is held guilty by any civil or criminal court for an offence which is punishable with imprisonment for a term not exceeding six months;

(2) In the opinion of the Council he brings disrepute to the profession or the Institute as a result of his action whether or not related to his professional work.


THE SECOND SCHEDULE


PART I: Professional Misconduct In Relation To Cost Accountants In Practice

A Cost Accountant in practice shall be deemed to be guilty of professional misconduct, if he:

(1) Discloses information acquired in the course of his professional engagement to any person other than his client so engaging him, without the consent of his client, or otherwise than as required by any law for the time being in force;

(2) Certifies or submits in his name, or in the name of his firm, a report of an examination of cost accounting and related statements unless the examination of such statements has been made by him or by a partner or an employee in his firm or by another Cost Accountant in practice;

(3) Permits his name or the name of his 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 vouches for the accuracy of the forecast;

(4) Expresses his opinion on cost or pricing statements of any business or enterprise in which he, his firm or a partner in his firm has a substantial interest;

(5) Fails to disclose a material fact known to him in a cost or pricing statement, which is not disclosed in a cost or pricing statement but disclosure of which is necessary in making such statement where he is concerned with such statement in a professional capacity;

(6) Fails to report a material mis-statement known to him to appear in a cost or pricing statement with which he is concerned in a professional capacity;

(7) Does not exercise due diligence, or is grossly negligent in the conduct of his professional duties;

(8) Fails to obtain sufficient information which is necessary for expression of an opinion or its exceptions are sufficiently material to negate the expression of an opinion;

(9) Fails to invite attention to any material departure from the generally accepted procedure of costing and pricing applicable to the circumstances;

(10) Fails to keep moneys of his client other than fees or remuneration or money meant to be expended in a separate banking account or to use such moneys for purposes for which they are intended within a reasonable time.


PART II: Professional Misconduct In Relation To Members Of The Institute Generally

A member of the Institute, whether in practice or not, shall be deemed to be guilty of professional misconduct, if he:

(1) Contravenes any of the provisions of this Act or the regulations made there-under or any guidelines issued by the Council;

(2) Being an employee of any company, firm or person, discloses confidential information acquired in the course of his employment, except as and when required by any law for the time being in force or except as permitted by the employer;

(3) Includes in any information, statement, return or form to be submitted to the Institute, Council or any of its Committees, any particulars knowing them to be false;

(4) Defalcates or embezzles professional funds or moneys received in his professional capacity.


PART III: Other Misconduct In Relation To Members Of The Institute Generally

A member of the Institute, whether in practice or not, shall be deemed to be guilty of other misconduct, if he is held guilty by any civil or criminal court for an offence which is punishable with imprisonment for a term exceeding six months.


Advocates (Bar Council of India)

Advocates act as officers of the court and play a vital role in the administration of justice. Accordingly, the set of rules that govern their professional conduct arise out of the duty that they owe the court, the client, their opponents and other advocates. Rules on the professional standards that an advocate needs to maintain are mentioned in Chapter II, Part VI of the Bar Council of India Rules. These rules have been placed there under Section 49(1)(c) of the Advocates Act, 1961.


Rules On An Advocate's Duty Towards The Court :

1. Act In A Dignified Manner: During the presentation of his case and also while acting before a court, an advocate should act in a dignified manner. He should at all times conduct himself with self-respect.

2. Respect The Court: An advocate should always show respect towards the Court. An advocate has to bear in mind that the dignity and respect maintained towards judicial office is essential for the survival of a free community.

3. Not Communicate In Private: An advocate should not communicate in private to a judge with regard to any matter pending before the judge or any other judge. An advocate should not influence the decision of a court in any matter using illegal or improper means such as coercion, bribe etc.

4. Refuse To Act In An Illegal Manner Towards The Opposition: An advocate should refuse to act in an illegal or improper manner towards the opposing counsel or the opposing parties. He shall also use his best efforts to restrain and prevent his client from acting in any illegal, improper manner or use unfair practices.

5. Refuse To Represent Clients Who Insist On Unfair Means: An advocate shall refuse to represent any client who insists on using unfair or improper means.

6. Appear In Proper Dress Code: An advocate should appear in court at all times only in the dress prescribed under the Bar Council of India Rules and his appearance should always be presentable.

7. Refuse To Appear In Front Of Relations: An advocate should not enter appearance, act, plead or practice in any way before a judicial authority if the sole or any member of the bench is related to the advocate.

8. Not To Wear Bands Or Gowns In Public Places: An advocate should not wear bands or gowns in public places other than in Courts, except on such ceremonial occasions and at such places as the Bar Council of India or as the Court may prescribe.

9. Not Represent Establishments Of Which He Is A Member: An advocate should not appear in or before any judicial authority, for or against any establishment if he is a member of the management of the establishment.

10. Not Appear In Matters Of Pecuniary Interest: An advocate should not act or plead in any matter in which he has financial interests.

11. Not Stand As Surety For Client: An advocate should not stand as a surety, or certify the soundness of a surety that his client requires for the purpose of any legal proceedings.


Rules On An Advocate's Duty Toward The Client :

1. Bound To Accept Briefs: An advocate is bound to accept any brief in the Courts or Tribunals or before any other authority in or before which he proposes to practice.

2. Not Withdraw From Service: An advocate should not ordinarily withdraw from serving a client once he has agreed to serve them. He can withdraw only if he has sufficient cause and by giving reasonable and sufficient notice to the client. Do not withdraw from a brief without cause.

3. Not Appear In Matters Where He Himself Is A Witness: An advocate should not accept a brief or appear in a case in which he himself is a witness.

4. Full And Frank Disclosure To The Client: An advocate should, at the commencement of his engagement and during the continuance thereof, make all such full and frank disclosure to his client relating to his connection with the parties and any interest in or about the controversy.

5. Uphold The Interest Of The Client: It shall be the duty of an advocate fearlessly to uphold the interests of his client by all fair and honorable means.

6. Not Suppress Material Or Evidence: An advocate appearing for the prosecution of a criminal trial should conduct the proceedings in a manner that does not lead to the conviction of the innocent. An advocate shall by no means suppress any material or evidence, which shall prove the innocence of the accused.

7. Not Disclose The Communications Between The Client And Himself: An advocate should not by any means, directly or indirectly, disclose the communications made by his client to him.

8. Stir Up Litigation: An advocate should not be a party to stir up or instigate litigation.

9. Instructions: An advocate should not act on the instructions of any person other than his client or the client's authorized agent.

10. Not Charge Depending On The Success Of Matters: An advocate should not charge for his services depending on the success of the matter undertaken.

11. Not Receive Interest In An Actionable Claim: An advocate should not trade or agree to receive any share or interest in any actionable claim.

12. Not Bid Or Purchase Property Arising From Legal Proceedings: An advocate should not by any means bid for, or purchase... any property sold in any legal proceeding in which he was in any way professionally engaged.

13. Not Bid Or Transfer Property Arising From Legal Proceedings: An advocate should not by any means bid in court auction or acquire by way of sale, gift, exchange or any other mode of transfer... any property which is the subject matter of any suit, appeal or other proceedings in which he is in any way professionally engaged.

14. Not Adjust Fees Against Personal Liability: An advocate should not adjust the fee payable to him by his client against his own personal liability to the client, which does not arise in the course of his employment as an advocate.

15. Advantage: An advocate should not misuse or takes advantage of the confidence reposed in him by his client.

16. Keep Proper Accounts: An advocate should always keep strict accounting of the clients' money entrusted to him.

17. Divert Money From Accounts: An advocate should mention in his accounts whether any monies received by him from the client are on account of fees or expenses... He shall not divert any part of the amounts received for expenses as fees without written instruction from the client.

18. Intimate The Client On Amounts: Where any amount is received or given to him on behalf of his client, the advocate must without any delay intimate the client of the fact of such receipt.

19. Adjust Fees After The Termination Of Proceedings: An advocate shall after the termination of proceedings, be at liberty to adjust the fees due to him from the account of the client.

20. Provide Copy Of Accounts: An advocate must provide the client with the copy of the client's account maintained by him on demand.

21. Loans: An advocate shall not enter into arrangements whereby funds in his hands are converted into loans.

22. Not Lend Money To His Client: An advocate shall never lend money to his client for the purpose of any action or legal proceedings in which he is engaged by such client.

23. Not Appear For Opposite Parties: An advocate who has advised a party in connection with the institution of a suit... shall not act, appear or plead for the opposite party in the same matter.


Rules On Advocate's Duty To Opponents :

1. Not To Negotiate Directly With Opposing Party: An advocate shall not in any way communicate or negotiate or call for settlement upon the subject matter of controversy with any party represented by an advocate except through the advocate representing the parties.

2. Carry Out Legitimate Promises Made: An advocate shall do his best to carry out all legitimate promises made to the opposite party even though not reduced to writing or enforceable under the rules of the Court.


Rules On An Advocate's Duty Towards Fellow Advocates :

1. Not Advertise Or Solicit Work: An advocate shall not solicit work or advertise in any manner.

2. Sign-Board And Name-Plate: An advocate's sign-board or name-plate should be of a reasonable size.

3. Not Promote Unauthorized Practice Of Law: An advocate shall not permit his professional services or his name to be used for promoting or starting any unauthorized practice of law.

4. Taxed Fees: An advocate shall not accept a fee less than the fee, which can be taxed under rules when the client is able to pay more.

5. Consent Of Fellow Advocate To Appear: An advocate should not appear in any matter where another advocate has filed a vakalt or memo for the same party. However, the advocate can take the consent of the other advocate for appearing, requiring consent from fellow advocates to appear on their behalf.


Platform Enforcement

White Collar Professional reserves the right to suspend or ban professionals who violate these institutional guidelines, pending investigation, to protect the marketplace's integrity.

Institutional Ethical Guidelines | White Collar Professional