professional misconduct

The Supreme Court on Wednesday ruled that no immunity from prosecution can be granted to the members or nonmembers of the Institute of Chartered Accountants of India for their professional misconduct under the provisions of the Chartered Accountants Full Article

"As per the Act, the institute can take disciplinary action against our members but not against other firms. It is becoming extremely important to curb ill practises. So, for the first time, the ICAI has decided to recommend the Union government that Full Article

List of cases as on 5th May, 2010 where (I) members of the Institute had been found guilty by the Council of the Institute under Section 21 read with Section 22 of the Chartered Accountants Act, 1949 (pre-amended) and the same had also been confirmed by the High Courts concerned and (II) members who had been found guilty and accordingly references made to the High Courts concerned for confirmation but the same are yet to be confirmed by the Courts. Full Article

Accounting regulator the Institute of Chartered Accountants of India (ICAI) today said it has found two auditors guilty of professional misconduct in the Global Trust Bank (GTB) scandal. A final notice would be soon sent to S Gopalakrishnan, facing trial in Satyam scam case, before pronouncing him guilty in the GTB scam, the ICAI said in a statement. Full Article

Attention of the members is drawn to Announcements dated 27th March 2009 and 19th May 2009 hosted on website of the Institute wherein the decision of the Council with regard to, inter-alia, working hours and coaching hours have been notified. Normal working hours for the articled assistants shall not start after 11.00 AM and not end before 5.00 PM.Coaching classes shall not continue after 9.30 AM and not start before 5.30 PM so as to enable the articled assistants to co.. Full Article

The government has sought clarity from auditing firm PriceWaterhouseCoopers (PWC) about their operations and business plans in India. “Come back with a plan. What is that you are responsible for? What is that you should be responsible for?” Corporate Affairs Minister Salman Khurshid told PTI while replying to questions about his meeting with senior representatives of PWC early this week. PWC has been in the news for the wrong reasons as its auditors were involved in .. Full Article

Guidelines for issuing Compliance Certificate and Signing Annual Return  In exercise of the powers conferred by Clause (1) of Part II of the Second Schedule to the Company Secretaries Act, 1980 (56 of 1980), as amended by the Company Secretaries (Amendment) Act, 2006, the Council of the Institute of Company Secretaries of India hereby issues [...] Full Article

In order to restore credibility in the Satyam-tainted work of auditors, the Institute of Chartered Accountants of India (ICAI), the apex body that regulates the profession of chartered accountancy in India, is considering various options, including demanding more powers for itself. “The institute needs to have more teeth and there is need to make changes [...] Full Article