ICAI takes action against 22 Members & imposed Penalty

ICAI has issued 22 Notifications Dated 22nd October 2021 by which it has Taken action against 22 Chartered Accountants for Violation of Code of Ethics and for Professional Misconduct.

In one case ICAI has Taken against a member and member has been ordered to pay a fine of Rs. 1000/- for each case of audit conducted in excess of the number stipulated in the Guidelines which aggregates to Rs. 4,90,000/- (Rupees Four Lakh Ninety Thousand) only. In total member has done 490 Extra audit than limit specified by ICAI. ICAI also removed his name from Register of Members for one Month.

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