As a part of ICAI’s continuous drive to uphold the credibility,
integrity and image of the accountancy profession in India, the
regulatory mechanism of ICAI is working assiduously. Disciplinary
Directorate of ICAI has been taking disciplinary action against its
errant members as per the provisions of the Chartered Accountants
(Amendment) Act, 2006 and Rules framed there under. CA.K.Raghu,
President, ICAI said " In the wake of Satyam scam, disciplinary
action was initiated against the concerned Statutory Auditors including
audit incharge(s), then CFO of the Company and Head of Internal Audit
Department. After completion of enquiry against the aforesaid persons,
the Disciplinary Committee having found them guilty of professional
misconduct has awarded the maximum punishment of removal of their
name(s) from the Register of Members permanently and also imposed a fine
of Rs. 5 lakh each on them. The Appellate Authority constituted under
Section 22A of the Chartered Accountants (Amendments) Act, 2006 in all
cases, except one case which is yet to be heard by the said Authority,
has also upheld the decision of the Disciplinary Committee of ICAI."
NEW
DELHI: Completing its proceedings against errant members involved in
Satyam scam of 2009, chartered accountants' apex body ICAI has
cancelled their memberships and has imposed a fine of Rs five lakh each
against them.
In the wake of Satyam scam, disciplinary action was initiated against the concerned statutory auditors including audit incharge, then CFO of the company and Head of Internal Audit Department.
"After completion of enquiry against the aforesaid per ..
In the wake of Satyam scam, disciplinary action was initiated against the concerned statutory auditors including audit incharge, then CFO of the company and Head of Internal Audit Department.
"After completion of enquiry against the aforesaid per ..
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