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.)

Dear reader,

Business Standard has always strived to provide up-to-date information and commentary on developments that matter to you and have broader political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these difficult times resulting from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative views and cutting-edge commentary on relevant current issues.
However, we have a demand.

As we fight the economic impact of the pandemic, we need your support even more so that we can continue to provide you with more quality content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve the goals of providing you with even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital editor


Source link

Comments are closed.