ICAI Case Law

Council of Institute of Chartered Accoutants of India vs Kul Rattan
Bhasin and Anr.

Professional misconduct: Duty of members of ICAI - Code of ethics
drawing community ethics and moral principles into professional
institutions
Members of the Institute of Chartered Accountants of India were bound
to act in a manner consistent with the good reputation of the
profession. They should refrain from any conduct, which might bring
discredit to the Institute. The members should be guided not merely by
the terms, but also by the spirit of the code of conduct and the fact
that particular conduct did not receive mention, did not prevent it
from being unacceptable or discreditable conduct, thus making a member
liable to disciplinary action. The code of ethics drew community
ethics and moral principles into the professional institutions. There
was a need to arrive at a balance between the interests of the member
as a citizen in expressing views in the matters of public concern and
the interest of the institution in preserving the status and dignity
of the professionals rendering service as chartered accountants.