ICAI Punishes 241 CAs in One Year: Disciplinary Action Details
The Institute of Chartered Accountants of India (ICAI) has awarded punishments to CAs in 241 cases over the past year, ranging from fines to suspension. Learn about ICAI's disciplinary process and the types of misconduct addressed.
New Delhi, Feb 19 (PTI) Chartered accountants' apex body ICAI awarded punishments to individuals in 241 cases in the last one year.
In the last three years -- 2022-23 to 2024-25 period -- the institute has awarded punishments in a total of 241 cases, as per latest data.
The Institute of Chartered Accountants of India (ICAI) has more than four lakh members.
The punishment varies from removal of the name of the chartered accountant concerned from the rolls for 15 days to 5 years, and fine varying from Rs 5,000 to Rs 5 lakh.
In 2024-25, the institute's disciplinary committee held 118 meetings, and concluded 270 hearings and awarded punishments in 241 cases.
This includes certain tax audit cases that were closed following a Supreme Court judgement.
The period of 2024-25 refers to the council year, which is from February 12, 2024 to February 11, 2025.
In 2023-24, punishments were awarded in 119 cases and in 2022-23, the count stood at 91.
At a briefing in the national capital on Wednesday, ICAI's newly elected President Charanjot Singh Nanda said it will be ensured that the institute's disciplinary mechanism is robust, fast and delivers justice.
In 2,771 cases, members were allegedly found to be prima facie guilty of professional and/or other misconduct since the inception of the current disciplinary mechanism in 2007 till February 11, 2025.
These cases were referred for enquiry to the Board of Discipline and Disciplinary Committee.
Of them, hearings have been concluded in 2,354 cases. Out of the 2,354 cases, in 1,072, members allegedly have been held guilty of professional misconduct, ICAI added.
In the last three years -- 2022-23 to 2024-25 period -- the institute has awarded punishments in a total of 241 cases, as per latest data.
The Institute of Chartered Accountants of India (ICAI) has more than four lakh members.
The punishment varies from removal of the name of the chartered accountant concerned from the rolls for 15 days to 5 years, and fine varying from Rs 5,000 to Rs 5 lakh.
In 2024-25, the institute's disciplinary committee held 118 meetings, and concluded 270 hearings and awarded punishments in 241 cases.
This includes certain tax audit cases that were closed following a Supreme Court judgement.
The period of 2024-25 refers to the council year, which is from February 12, 2024 to February 11, 2025.
In 2023-24, punishments were awarded in 119 cases and in 2022-23, the count stood at 91.
At a briefing in the national capital on Wednesday, ICAI's newly elected President Charanjot Singh Nanda said it will be ensured that the institute's disciplinary mechanism is robust, fast and delivers justice.
In 2,771 cases, members were allegedly found to be prima facie guilty of professional and/or other misconduct since the inception of the current disciplinary mechanism in 2007 till February 11, 2025.
These cases were referred for enquiry to the Board of Discipline and Disciplinary Committee.
Of them, hearings have been concluded in 2,354 cases. Out of the 2,354 cases, in 1,072, members allegedly have been held guilty of professional misconduct, ICAI added.
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