ICAI opposes the proposal to introduce 3 non-CA members to the committee

The Institute of Chartered Accountants of India said it would oppose the Center’s proposal to introduce three non-CA members to the ICAI Discipline Committee, arguing that the move would affect a judgment fair.

The government, through the 2021 bill on chartered accountants, cost and work accountants and company secretaries (amendment), proposed the inclusion of two CAs and three non-CAs in the ICAI Disciplinary Committee.

Currently, the panel includes two non-CA candidates and three ICAI members.

The bill was sent by Lok Sabha to a standing parliamentary committee for consideration.

We oppose the proposal and will present our case to the standing committee when we are invited to a hearing, ICAI Vice President Debasish Mitra told PTI on the sidelines of a program here on Wednesday.

He said that non-CAs will not have the in-depth knowledge of accounting, which is essential for a fair judgment.

Mitra also said that ICAI will focus on adapting new technologies such as artificial intelligence, as well as forensic auditing and upgrading its code of ethics.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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