A practising chartered accountant discloses information about a client's business acquired in the course of an audit to a competitor, without the client's consent and without any legal requirement. This is misconduct under:

Correct answer: D) Clause (1) of Part I of the Second Schedule

Explanation

Clause (1) of Part I of the Second Schedule makes it misconduct for a member in practice to disclose information acquired in the course of professional engagement to any person other than the client, without the client's consent or otherwise than as required by law. Clause (6) of the First Schedule concerns solicitation, Clause (8) communication with the previous auditor, and Clause (10) of the Second Schedule client monies.