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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ICAI Code of Ethics, 2018 -Exposure Draft

CA, CS, CMA - This ICAI Code of Ethics is applicable from 1 April, 2019. Where guidance contained in this Code relates to engagements commencing prior to that date, previous guidance may be applied up to completion of the said engagements. Transitional arrangements are available in respect of specific sections of this Code....

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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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Alleged Professional Misconduct issue cannot be decided based on law enacted subsequently

Devendraa P. Kapur Vs. ICAI & Others (Appellate Authority) - Devendraa P. Kapur Vs. ICAI & Others (Appellate Authority) The Appellant has also taken a ground of Appeal before us that the Disciplinary Committee has decided these cases in accordance with the law which was not prevalent when the alleged misconduct was committed but came into effect after the...

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ICAI order on Misconduct against Delhi CAs remanded back to it by Appellate Authority

Radhey Shyam Bansal & Anil Kumar Aggarwal Vs. ICAI (Appellate Authority) - A sting operation conducted by Aaj Tak News Channel and aired on 14th November, 2016 under title Jugadu Mechanic Part-3 containing allegations against CA. Radhey Shyam Bansal...

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CS held guilty of negligence in issue of Compliance Certificate

SFIO, MCA Vs. Mohammed Haroon Rasheed Aabid (Disciplinary Committee of ICSI) - Respondent has admitted to have not visited the office of the City group companies but has relied merely on the instructions of one Shri Kaiser Baig rather than verifying the records himself at the office of the company. ...

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CA held guilty of Misconduct for failure to exercise due diligence

Mahavir Jain Vs Disciplinary Committee (Appellate Authority) - Mahavir Jain Vs Disciplinary Committee (Appellate Authority) 1. This Appeal has been filed by the Appellant before this Authority against the Order dated 7th November, 2017 passed by the Disciplinary Committee (Bench-I) of the Institute of Chartered Accountants of India under Section 21B (3) of the...

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Cost Accountants in practice cannot work as MD in a company

Ashok B. Nawal Vs ICWAI (Appellate Authority) - It was clear that despite knowing the fact that Managing Director (MD) was not allowed under the CWA Act, the Respondent had accepted the position of MD and also protecting the same. ...

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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"

Alleged Professional Misconduct issue cannot be decided based on law enacted subsequently

Devendraa P. Kapur Vs. ICAI & Others (Appellate Authority)

Devendraa P. Kapur Vs. ICAI & Others (Appellate Authority) The Appellant has also taken a ground of Appeal before us that the Disciplinary Committee has decided these cases in accordance with the law which was not prevalent when the alleged misconduct was committed but came into effect after the amendment made in the year 2006 [&helli...

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ICAI order on Misconduct against Delhi CAs remanded back to it by Appellate Authority

Radhey Shyam Bansal & Anil Kumar Aggarwal Vs. ICAI (Appellate Authority)

A sting operation conducted by Aaj Tak News Channel and aired on 14th November, 2016 under title Jugadu Mechanic Part-3 containing allegations against CA. Radhey Shyam Bansal...

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CS held guilty of negligence in issue of Compliance Certificate

SFIO, MCA Vs. Mohammed Haroon Rasheed Aabid (Disciplinary Committee of ICSI)

Respondent has admitted to have not visited the office of the City group companies but has relied merely on the instructions of one Shri Kaiser Baig rather than verifying the records himself at the office of the company. ...

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Posted Under: CA, CS, CMA |

CA held guilty of Misconduct for failure to exercise due diligence

Mahavir Jain Vs Disciplinary Committee (Appellate Authority)

Mahavir Jain Vs Disciplinary Committee (Appellate Authority) 1. This Appeal has been filed by the Appellant before this Authority against the Order dated 7th November, 2017 passed by the Disciplinary Committee (Bench-I) of the Institute of Chartered Accountants of India under Section 21B (3) of the Chartered Accountants Act, 1949 read wi...

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ICAI Code of Ethics, 2018 -Exposure Draft

D.O.No. 6(3)319/2017-LC(LS) (30/08/2018)

This ICAI Code of Ethics is applicable from 1 April, 2019. Where guidance contained in this Code relates to engagements commencing prior to that date, previous guidance may be applied up to completion of the said engagements. Transitional arrangements are available in respect of specific sections of this Code....

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Posted Under: CA, CS, CMA |

Cost Accountants in practice cannot work as MD in a company

Ashok B. Nawal Vs ICWAI (Appellate Authority)

It was clear that despite knowing the fact that Managing Director (MD) was not allowed under the CWA Act, the Respondent had accepted the position of MD and also protecting the same. ...

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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 amounting to Rs. 22.70 Crores approximately, whi...

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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 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...

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