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Update on disciplinary action as per the Chartered Accountants Act 1949

In all the below matters action can be taken by ICAI if reported or even suo Moto by Disciplinary Committee:

List of violations (The list is illustrative only):

  1. Director in a company without informing to the Institute, while holding Certificate of Practice.
  2. Director in a company in which the member has “substantial interest” while holding Certificate of Practice and not obtained permission.
  3. Acceptance of assignments of audit without communicating with previous auditor.
  4. Issued different certificates for different purposes.
  5. Issued / signed financial statements for the same period with different numbers.
  6. Doing business in the name of spouse or children.
  7. Being a sleeping partner in a business enterprise without obtaining permission from ICAI.
  8. Has been in police custody for more than a night and not informed to ICAI about the fact.
  9. Allowed a person /some persons to use the name, not being a practicing members.
  10. Shared fee with non practicing members.
  11. Accepted profits from a person who is / was not a member of ICAI.
  12. Issued advertisements and solicited professional work.
  13. Not informed the change in employment / address with in stipulated time to ICAI.
  14. Charged fee in percentage or as a share of profit or on contingency result.
  15. Holding CoP and conducting coaching classes either in individual capacity or as director and holding more than 2% of capital along with relatives(relative defined as per IT Act of 1961).
  16. Carried out Tax audits being a part time practitioner.
  17. Being a office bearer of ICAI, submitted wrong claim / statement of claim.
  18. Carried out audit / assignment negligently.
  19. Used brand name for procuring professional work.
  20. Holding CoP, bounced cheques issued towards loans.
  21. Utilised clients money for personal / other purposes.
  22. Conducted internal audit and external audit of an enterprise for the same periods.
  23. Accepted to carry out internal and external audits.
  24. Violated any of the Council guidelines issued in 2008 and CA Regulations.
  25. Not submitted information sought by ICAI on different occasions.
  26. Not informed ICAI w.r.t professional details, change in status, address etc etc.
  27. Not paid dues to Government authorities which are not disputed.
  28. Working abroad but being a partner in Indian firm.
  29. Holding CoP and working in an enterprise, not being a CA firm, as a consultant
    Defacto employee but dejure a member in practice.

Do evaluate yourself whether you have done any violation of above nature.

Above is shared with purpose to educate ourselves. Any one has any other points to add can send it. Just for caution. Today environment we don’t know what will happen and we should not become scapegoat to system, so better to educate and be cautious.

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