A cost accountant in practice shall be deemed to be guilty of professional misconduct, if he:-
(1) allows any person to practise in his name as a cost accountant unless such person is also a cost accountant in practice and is in partnership with or employed by himself;
(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 work, 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.
Explanation: In this item, “partner” includes a person residing outside India with whom a cost accountant in practice has entered into a partnership which is not in contravention of the item (4) of this part;
(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:
Provided that nothing herein contained shall be construed as prohibiting a member from entering into profit sharing or other similar arrangements, including receiving any share, commission or brokerage in the fees, with a member of such professional body or other person having qualifications, as is referred to in item (2) of this Part;
(4) enters into partnership, in or outside India, with any person other than a cost accountant in practice or such other person who is a member of any other professional body having such qualifications as may be prescribed, including a resident who but for his residence abroad would be entitled to be registered as a member under clause (iv) of sub-section (1) of section 4 or whose qualifications are recognized by the Central Government or the Council for the purpose of permitting such partnerships;

(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:
Provided that nothing herein contained shall be construed as prohibiting any arrangement permitted in terms of items (2), (3) and (4) of this Part;
(6) solicits clients or professional work, either directly or indirectly, by circular, advertisement, personal communication or interview or by any other means:
Provided that nothing herein contained shall be construed as preventing or prohibiting-
(i) any cost accountant from applying or requesting for or inviting or securing professional work from another cost accountant in practice;
(ii) a member from responding to tenders or enquiries issued by various users of professional services or organisations from time to time and securing professional work as a consequence;
(7) advertises his professional attainments or services, or uses any designation or expressions other than cost accountant on professional documents, visiting cards, letterheads or signboards, unless it is a degree
of a University established by law in India or recognized by the Central Government or a title indicating membership of the [Institute of Cost Accountants of India] or of any other institution that has been recognized
by the Central Government or may be recognized by the Council :
Provided that a member in practice may advertise through a write-up, setting out the services provided by him or his firm and particulars of his firm subject to such guidelines as may be issued by the Council;