Failure of CA to investigate transactions in depth is gross negligence in performing professional duties

 CA Saurabh Chokhra Brief of the case: The Hon’ble Delhi High Court in the above cited case held that a Chartered Accountant while doing concurrent audit is expected to check the transactions falling within the scope of audit in depth. Thus, non-checking of the same would be gross negligence on his part while performing professional duties.Accordingly, he is liable to face the charge of professional misconduct under clause 7 of the First Schedule of the CA Act, 1949. Facts of the case: M/s. J.S.Bedi and Co., Chartered Accountants of which Sh.U.S.Jha was a partner/member, he being a Ch...