professional misconduct

6 Latest Instances Maligning an Honourable Profession of CA

CA, CS, CMA - There are a number of issues directly linked to maligning the image of Chartered accountants which started from Satyam , Reddys, Lodhas and we are being found mediatory in almost all the cases of bribes caught red-handed by the enforcement agencies. However, an attempt is being made here through this article to look for the last six incid...

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FAQs on ethical issues relating to GST

CA, CS, CMA - Q1. Whether a member in practice can engage as GST practitioner? A. Yes, a member in practice can engage as GST practitioner , as the activities to be performed by GST practitioner mentioned in CGST Act, 2017 read with CGST Rules, 2017 are within the purview of a member in practice as per the provisions of Chartered Accountants Act, 19...

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Professional Ethics / Misconduct In Relation to CA In Practice

CA, CS, CMA - Professional ethics encompass the personal, organizational, and corporate standards of behavior expected by In simple words we can say that professional conduct of an individual. ...

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No immunity can be granted to ICAI members for Professional misconduct

CA, CS, CMA - 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 ...

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ICAI found two GTB auditors guilty of professional misconduct

CA, CS, CMA - 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 ...

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CVC Code of Ethics for Chartered Accountants

CA, CS, CMA - This function of attestation is done by professional accountants, who are Chartered Accountants in our country. It has been however, observed that there have been a number of cases in banks and financial institutions wherein due to the erroneous/ambiguous advice tendered by the respective Chartered Accountants, borrowal accounts have had ...

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ICAI wants power to take action against erring audit firms

CA, CS, CMA - "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...

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ICAI Publishes List of Members held Guilty of professional and/or other misconduct

CA, CS, CMA - 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 r...

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ICAI found two GTB auditors guilty of professional misconduct

CA, CS, CMA - 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 ...

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Coaching classes for CA students not permissible between 9.30 a.m. and 5.30 p.m

CA, CS, CMA - 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 befo...

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Technical error cannot be treated as Professional Misconduct or gross negligence

Ramchandra Y. Kulkarni Vs Disciplinary Committee of icai (Appellate Authority) - Ramchandra Y. Kulkarni Vs Disciplinary Committee of icai (Appellate Authority) complainant is an Asset Reconstruction Company and the only grievance of the Complainant is that the Appellant who was auditor of M/s AV Forging Private Limited, a company which had taken loans from M/s Axis Bank amountin...

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Not reporting as per revised 3CD report is Professional Misconduct

Ishaq Esmail Lakkadghat Vs Income Tax officer (Appellate Authority) - Being aggrieved by the Report dated 14thOctober, 2015 and Order dated 27 th May, 2017 (Impugned Order), passed by the Disciplinary Committee of the Institute of Chartered Accountants of India under Section 21B (3) of the Chartered Accountants Act, 1949 read with Rule 19 (1) of the Chartered Accoun...

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AA confirms Punishment to CA for failure to exercise due diligence

V. Ajay Vs Disciplinary Committee (ICAI) - V. Ajay Vs Disciplinary Committee, ICAI (Appellate Authority) 1. This Order deals with the above mentioned two appeals filed by the Appellant before this Authority. First appeal has been filed against an Order dated 20th January, 2017, passed by the Disciplinary Committee of the Institute of Char...

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ICAI not bound to take disciplinary action against its member merely because of receipt of reminder from SFIO

Vijay Kumar Gupta Vs Director (Discipline), Institute Of Chartered Accountants Of India (ICAI) And Anr. (Delhi High Court) - Petitioner is a Chartered Accountant against whom information within the meaning of Rule 7 of the Chartered Accountants (Procedure of Investigation of Professional and other Misconduct and Conduct of Cases) Rules, 2007 was provided by Serious Fraud Investigation Office...

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CAs ought to maintain highest level of ethics and integrity: Delhi HC

Council Of The Institute Of Chartered Accountant Of India Vs. Ashok Kumar & Anr. (Delhi High Court) - Court would like to observe that CAs ought to maintain the highest level of ethics and integrity, not only in the interest of their clients but also to ensure that probity and sanctity are not compromised in any manner as CAs are not merely professionals engaged by their clients, but are protectors ...

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ICAI takes action against 4 Members for Misconduct

Notification No. DD/141/11/BOD/144/2013, DD/3/S/INF/11/DC/232/2012 , DD/174/10/DC/320/2014, No. DD/70/09/DC/127/2010 and DD/73/09/DC/128/2010 - (06/06/2016) - ICAI has vide its Notifications dated 06th June 2016 notified the action taken for Professional and Other Misconduct rules against Ms. Sunita Shamsunder Narang (Membership No. 046574), Shri N. Sundararajan (Membership No. 021341),Shri D. Sundararajan (Membership No. 010150) and Shri Mahendra Kumar H...

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Recent Posts in "professional misconduct"

Technical error cannot be treated as Professional Misconduct or gross negligence

Ramchandra Y. Kulkarni Vs Disciplinary Committee of icai (Appellate Authority)

Ramchandra Y. Kulkarni Vs Disciplinary Committee of icai (Appellate Authority) complainant is an Asset Reconstruction Company and the only grievance of the Complainant is that the Appellant who was auditor of M/s AV Forging Private Limited, a company which had taken loans from M/s Axis Bank amounting to Rs. 22.70 Crores approximately, whi...

Read More

Not reporting as per revised 3CD report is Professional Misconduct

Ishaq Esmail Lakkadghat Vs Income Tax officer (Appellate Authority)

Being aggrieved by the Report dated 14thOctober, 2015 and Order dated 27 th May, 2017 (Impugned Order), passed by the Disciplinary Committee of the Institute of Chartered Accountants of India under Section 21B (3) of the Chartered Accountants Act, 1949 read with Rule 19 (1) of the Chartered Accountants (Procedure of Investigation of Pro...

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AA confirms Punishment to CA for failure to exercise due diligence

V. Ajay Vs Disciplinary Committee (ICAI)

V. Ajay Vs Disciplinary Committee, ICAI (Appellate Authority) 1. This Order deals with the above mentioned two appeals filed by the Appellant before this Authority. First appeal has been filed against an Order dated 20th January, 2017, passed by the Disciplinary Committee of the Institute of Chartered Accountants of India under section...

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Posted Under: CA, CS, CMA |

ICAI not bound to take disciplinary action against its member merely because of receipt of reminder from SFIO

Vijay Kumar Gupta Vs Director (Discipline), Institute Of Chartered Accountants Of India (ICAI) And Anr. (Delhi High Court)

Petitioner is a Chartered Accountant against whom information within the meaning of Rule 7 of the Chartered Accountants (Procedure of Investigation of Professional and other Misconduct and Conduct of Cases) Rules, 2007 was provided by Serious Fraud Investigation Office...

Read More

6 Latest Instances Maligning an Honourable Profession of CA

There are a number of issues directly linked to maligning the image of Chartered accountants which started from Satyam , Reddys, Lodhas and we are being found mediatory in almost all the cases of bribes caught red-handed by the enforcement agencies. However, an attempt is being made here through this article to look for the last six incid...

Read More

CAs ought to maintain highest level of ethics and integrity: Delhi HC

Council Of The Institute Of Chartered Accountant Of India Vs. Ashok Kumar & Anr. (Delhi High Court)

Court would like to observe that CAs ought to maintain the highest level of ethics and integrity, not only in the interest of their clients but also to ensure that probity and sanctity are not compromised in any manner as CAs are not merely professionals engaged by their clients, but are protectors and guardians of financial markets on wh...

Read More

CVC Code of Ethics for Chartered Accountants

This function of attestation is done by professional accountants, who are Chartered Accountants in our country. It has been however, observed that there have been a number of cases in banks and financial institutions wherein due to the erroneous/ambiguous advice tendered by the respective Chartered Accountants, borrowal accounts have had ...

Read More
Posted Under: CA, CS, CMA | ,

FAQs on ethical issues relating to GST

Q1. Whether a member in practice can engage as GST practitioner? A. Yes, a member in practice can engage as GST practitioner , as the activities to be performed by GST practitioner mentioned in CGST Act, 2017 read with CGST Rules, 2017 are within the purview of a member in practice as per the provisions of Chartered Accountants Act, 19...

Read More
Posted Under: CA, CS, CMA |

Courts have Limited Role in Professional Misconduct matters of CAs

Council Of ICAI Vs. Manubhai A Panchal & Co. (Gujarat High Court)

This Court while deciding a Reference needs to keep in mind the limitations of its role. It does not sit in appeal over the decision making process of the Disciplinary Committee and the recommendations so made by the Council of the Institute. Hence in examining the Report and the recommendation of the Council it cannot re-appreciate the ...

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Prosecution under PMLA cannot be dropped for Acquittal by ICAI Disciplinary Committee

Mahesh Agarwalla Vs Assistant Director, (Calcutta High Court)

The findings of the Disciplinary Committee by no stretch of imagination can be said to be binding on the criminal court where the accusation is to be proved on the basis of evidence adduced before it in accordance with law. Moreover, the findings do not render the substratum of accusation of conspiracy between the petitioner and the other...

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