Lately ICAI has started taking various steps to uplift the profession and one of such step is to take action against Chartered Accountants who are found guilty of professional misconduct. Also recently we saw a notification from ICAI stating that a Practicing Chartered Accountant cannot become a member of any business network.
ICAI has in the past also removed name of various Chartered Accountants from the registrar for a limited period when they were found guilty of professional misconduct so this is nothing new which ICAI has done.
In the recent case ICAI has temporarily removed name of 3 Chartered Accountant who were found guilty of professional misconduct under clause 7 of Part I of schedule II which relates to due diligence and read as “A chartered accountant in practice shall be deemed to be guilty of Professional Misconduct, if he does not exercise due diligence, or is grossly negligent in the conduct of his professional duties.” The details of professionals are as follows:
- CA Abhishek Saxena: M. No. 400964, Removal of name from registrar of member for 1 year
- CA Kamal Mehta: M. No. 071500, Removal of name from registrar of member for 3 months plus fine of Rs. 1,18,000/-.
- CA Punit Godawat: M. No. 402148, Removal of name from registrar of member for 3 months plus fine of Rs. 11,800/-.
The removal of name shall come into effect from 20.12.2019.
Now there are no complete information of why they were covered under professional misconduct but it will surely set an example for other practicing Chartered Accountant.
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