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Schedule I, Part I of the Chartered Accountants Act 1949 deals with:
ATax audit ceiling
BProfessional misconduct in relation to chartered accountants in practice
CAudit fees
DAuditor independence
Answer & Solution
Correct answer: C. Audit fees
1. Schedule I, Part I (Clauses 1-12) lists misconducts of CAs in practice.
2. Part II covers CAs not in practice.
3. Schedule II covers more grave misconducts.
_Source: ICAI BoS CA Final Paper 3, Ch 6 "Standards on Auditing and Professional Ethics"_
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