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 : Discover the Supreme Court's ruling on ICAI's 60 tax audits limit per Chartered Accountant, its implications, and future impact on...
CA, CS, CMA : Analysis of ICAIs disciplinary action against EY India affiliates for professional misconduct, implications, and insights into reg...
Company Law : The Order No. 002/2024 Date: 05.01.2024, centered around CA Anil Chauhan, the Engagement Partner (EP) of Anil Chauhan & Associates...
CA, CS, CMA : Discover the professional misconducts of a Chartered Accountant in Part 3 of our series. Learn about the implications and conseque...
CA, CS, CMA : ICAI penalises CA for not physically visiting registered office of Company before filing its SPICe Form The Institute of Chartered...
CA, CS, CMA : Learn about ICAI's reporting requirements for fees disclosure under revised Code of Ethics. Discover key details and implications ...
CA, CS, CMA : Ethical Standards Board The Institute of Chartered Accountants of India 22nd October, 2022 Advisory Sub.: Use of designation ̶...
CA, CS, CMA : Disclosure is required where for two consecutive years, gross annual professional fees from an audit client represent more than 40...
CA, CS, CMA : A Practicing Chartered Accountant abstain from soliciting clients or professional work either directly or indirectly by circular, ...
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, ...
CA, CS, CMA : Delhi High Court upholds the decision of Disciplinary Committee of ICAI holding petitioner guilty of professional misconduct as ch...
CA, CS, CMA : Bombay High Court acquits CA Gordhanbhai Madhabhai Savalia, citing inordinate delay, lack of evidence, and legal complexities in p...
CA, CS, CMA : Explore Section 12(e) of the Partnership Act 1932 and its implications on sharing firm financials with legal heirs. Detailed analy...
Corporate Law : Explore NFRA Order No. 019/2024 detailing penalties imposed on M/s Singh Ajay & Co. and CA Priyank Mittal for audit lapses in Vika...
Corporate Law : Explore NFRA Order No. 018/2024 on CA Yogesh Mahipal for audit misconduct findings and penalties under Companies Act 2013. Detaile...
CA, CS, CMA : Read about recent disciplinary actions by ICAI removing members from the register due to professional misconduct. Understand impli...
Company Law : Learn about NFRA action against CA Kashinath Chaturvedi for professional misconduct in auditing DHFL branches. Understand the find...
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 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 […]
In India, majority of business class population comes from middle class and what business they do is of no relevance here but how they do is of utmost relevance. We all know the concept of sole proprietorship and partnership firms and yes this “firm” is the way in which how majority people work. Did you […]
The Institute of Chartered Accountants of India & Ors. Vs. Shaji Poulose & Ors. (Supreme Court) In the writ petitions, which are sought to be transferred, writ petitioners have challenged validity of Chapter VI of Guidelines No.1‑CA(7)/02/2008 dated 08.08.2008 issued by the Council of petitioner Institute on the ground that the same is violative of […]
Whether CA in Practice is allow to do trading under F&O segment ? As per Clause 11 of Part 1 of the First Schedule of The Chartered Accountant Act, 1949 A Chartered Accountant in Practice shall be deemed to be guilty of professional misconduct if he engaged in any business or occupation other than profession […]
