CA, CS, CMA : Ethical conduct is the core of professional credibility in accountancy, directly influencing career prospects, client trust, and r...
Corporate Law : Core principles of professionalism (integrity, objectivity, independence) for CAs and bankers, enforced by ICAI, Companies Act, an...
CA, CS, CMA : A summary of the First Schedule of the Chartered Accountants Act, 1949, detailing professional misconduct, recent amendments, and ...
CA, CS, CMA : Explore the ICAI Code of Ethics—its structure, key rules, and disciplinary process ensuring ethical conduct by Chartered Account...
CA, CS, CMA : Understand the 60-tax audit rule for Chartered Accountants, its exceptions, and its implications on professional conduct and ethic...
CA, CS, CMA : ICAI’s Code of Ethics amendments now allow advertising, website promotion, and enhanced visibility, enabling domestic CA firms t...
CA, CS, CMA : ICAI's Ethical Standards Board issued an Exposure Draft for the 13th Code of Ethics, proposing revisions to the current standards....
CA, CS, CMA : ICMAI issues revised Code of Ethics for CMAs, effective June 1, 2025, including independence standards for audit and assurance eng...
Company Law : NFRA's 2023 inspection of Deloitte Haskins & Sells LLP finds improvements but notes ongoing issues in key audit areas....
Company Law : NFRA's 2023 inspection of Walker Chandiok & Co. LLP reveals ongoing issues in independence and audit procedures....
CA, CS, CMA : Appellant had approached this Court by way of the present intra Court appeal. It was held that BoD had failed to accord any reaso...
CA, CS, CMA : Read the full NCLT judgment/order on Union of India Vs CA. Ramaiah Nataraja. Bengaluru CA barred from statutory auditor role for c...
CA, CS, CMA : Delhi High Court rules that ICAI can hold entire CA firms accountable for misconduct, even if individual guilt isn't found. Full j...
CA, CS, CMA : Naresh Chandra Agrawal Vs Institute of Chartered Accountants of India And Others (Supreme Court of India) In a landmark judgment, ...
Income Tax : Held that rule 12 Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Ru...
CA, CS, CMA : ICAI Disciplinary Committee reprimands CA. Jayaraman Dindigul Viswanathan for professional misconduct in issuing an unverified cer...
CA, CS, CMA : ICAI sets limit of 60 tax audit assignments per CA or partner annually, effective from 1 April 2026, replacing earlier 2008 guidel...
CA, CS, CMA : ICAI found two CAs guilty of professional misconduct in the NSEL audit case and ordered one-year membership removal for CA Shrawan...
CA, CS, CMA : The ICAI Disciplinary Committee has ordered the removal of CA Srinivas Talluri's name from the Register of Members for 10 years an...
CA, CS, CMA : ICAI suspends CAs Praveen Murarka and Subhash Chander Sharma for professional misconduct, with removal from Register of Members ef...
The court sanctioned the Scheme of Amalgamation vide judgement dated 26.03.2015 and it is apparent that the Court found no fault with or falsity in the report. Once the report passed the threshold of judicial scrutiny, there was no reason why the Disciplinary Committee of ICAI should have adjudicated the correctness or otherwise of the report.
ICAI takes disciplinary action against 17 Chartered Accountants vide 17 notifications issued on 26th November 2021. THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA (Set up by an Act of Parliament) NOTIFICATION New Delhi, the 26th November, 2021 (CHARTERED ACCOUNTANTS) No. PPR/P/104/15-DD/77/INF/15-BOD/402/17.— In terms of the provisions of Section 21A(3) of the Chartered Accountants Act, 1949 […]
ICAI has issued 22 Notifications Dated 22nd October 2021 by which it has Taken action against 22 Chartered Accountants for Violation of Code of Ethics and for Professional Misconduct. In one case ICAI has Taken against a member and member has been ordered to pay a fine of Rs. 1000/- for each case of audit […]
D.K. Agrawal Vs Council of Institute of Chartered Accountants of India (Supreme Court of India) Hon’ble Supreme Court held that the Council of Institute of Chartered Accountants of India (Respondent) needs to necessarily record reasons in its report as to why a CA must be de-registered. It has been held that the Respondent needs to […]
The Word of Caution and the Good News for Auditors: The auditor is now required to ensure zero outstanding of audit fee before signing current year audit report as per the Revised Code of Ethics. Legal Position as per Code of Ethics, 2019 Section 410.7 A1 A self-interest threat might be created if a significant […]
As the members are aware, the revised 12th edition of Code of Ethics has come into effect from 1st July, 2020. It is accessible on www.icai.org. It may further be recalled that the Council at its 393rd Meeting held on 30th June and 1st July, 2020 decided that due to the prevailing situation due to Covid-19, the effective date of the following provisions of Volume-I of Code of Ethics, 2019 be deferred till further notification
While the revised Code retains the fundamental ethical principles from the earlier code, it covers refreshed approach and contains certain new substantially revised requirements. The part shown in requirements establish general and specific obligations to be complied with by the members, while the application material provides the context, explanations, suggestions or actions, illustrations and other guidance to assist in complying with the other requirements.
On 15th February ICAI notified that it has removed name of 7 members from the Register of Members for the period of 15 days to Two Years depending upon the nature of Professional Misconduct. Full text of such notifications are given below- THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA Notification No. PR/237/15-DD/261/15/DC/767/2018 New Delhi, the […]
NFRA makes the following order in terms of Sec 132(4)(c) of the Companies Act, 2013. (i) A monetary penalty of Rs Five Lakhs is levied upon CA Rukshad Daruvala. (ii) In addition, CA Rukshad Daruvala is debarred for a period of five years from being appointed as an auditor or internal auditor or undertaking any […]
Impact of Overdue Fees (Section 410.7) of New Code of Ethics of ICAI All CAs celebrate 1st July as CA Day but it is also celebrated by all doctors and Agriculturists. India is a leading agri-oriented country wherein agricultural sectors continue to remain the biggest employer since ancient times. Given the cyclical nature of agriculture, […]
