ICAI to Expedite Public Interest Cases

New Delhi, Feb 18 (PTI) Chartered accountants' apex body ICAI will set up a group to expedite proceedings in nearly 10 cases in relation to alleged accounting and auditing discrepancies involving public interest, its President Prasanna Kumar D said on Wednesday.

The Institute of Chartered Accountants of India (ICAI) is looking into various cases, including that of IndusInd Bank and Gensol, for accounting and auditing irregularities.

Kumar, who took over as the institute's President on February 12, told PTI that it aims to take decisions related to at least 10 cases involving public interest in the next two months.

A group will be set up to expedite the cases, he said at a media briefing in the national capital.

The cases are at various stages at the institute, which handles matters at multiple levels, including through the Financial Reporting Review Board (FRRB) and the Board of Discipline.


ICAI has more than five lakh members.

Meanwhile, the institute has set up an expert group to give comments on the draft rules for the Income Tax Act, 2025. The Act is set to be implemented from April 1 this year.

Earlier this month, the tax department released draft rules and forms for the new Act.

It has sought comments from the stakeholders before notifying the rules and the forms. PTI RAM DR

DR