‘Ethical Standards form important pillar of CA profession’

 

 

 

Every Chartered Accountant is governed by Code of Ethics formulated by The Institute of Chartered Accountants of India (ICAI) for its members. It is imperative for all Chartered Accountants to know and follow these codes of ethics. Further Chartered Accountant Members are required to follow all cautions before issuing a certificate or any report. To update the members regarding these Code of Ethics and certification precautions, Nagpur Branch organized a VCM for the benefit of members. “The Code of Ethics is like Bhagwat Gita for Chartered Accountants to follow,” remarked CA Prafulla Chhajed, Past President while speaking VCM organised by the Nagpur Branch of ICAI. He said that Ethical Standards form a very important part of CA profession.

 

There is a Ethical Standards Board of ICAI to regulate the profession. Chhajed urged all professionals to know, understand and follow all ethics on profession. There are guidelines regulating the profession as regards advertising, networking or promoting which needs to be followed diligently. He stated that all the professionals must remember that ignorance of law is not an excuse and thus everyone must pay attention to all the code of ethics prescribed. CA Chhajed, Chairman of Ethical Standards Board, further said that the Ethical Standards are benchmarked with International Global Standards. He appreciated the efforts of CA Saket Bagdia, Chairman and his team for organising innovative programmes for the benefit of the members. Every Chartered Accountant is required to follow all code of ethics prescribed by Ethical Standards Board of India, said CA Bagdia. He expressed his thanks to Past CCM, CA Mangesh Kinare for guiding the members on Code of Ethics and Certifications in a practical manner. With increasing responsibilities, certification and reporting part must be done very judiciously by all members, said Regional Council Member, CA Abhijit Kelkar. CA Mangesh Kinare, Past Central Council Member and a Co-opted member of Ethical Standards Board at ICAI covered all practical issues as regards code of conduct by members in practice. He started with explaining about activities that can be carried by CA in practice including covering about management consultancy and other services.

 

He discussed about provisions in Code of Conduct as regards engagement in other business or occupation or as lecturer or loss surveyor or as a Director apart from practicing as Member. CA Kinare also covered issues as regards solicitations, promotion, advertisement issues for Chartered Accountants by giving practical examples. The session was coordinated by CA Akshay Gulhane, Treasurer, CA Sanjay M Agrawal, Secretary and CA Kirit Kalyani, Immediate Past Chairman. CA Jiten Saglani, Vice Chairman, CA Julfesh Shah, Past Vice Chairman of WIRC, CA Kirti Agrawal, Past Chairman, CA Umang Agrawal, Past Chairman, CA P C Sarda and others were present.