ICAI proposes to ease rules for CAs; experts say ‘inadequate’

THE INSTITUTE OF Chartered Accountants of India (ICAI) has proposed to significantly relax the regulatory regime for chartered accountants (CAs), by allowing them to form partnerships with some other professionals, sponsor events and conduct webcasts, among others.

- MANU KAUSHIK

In all, ICAI has proposed 41 significant changes to the all-important Code of Ethics (CoE) that govern CAs in the country, in a recently released exposure draft. In addition, the self-regulatory body has proposed changes in Council Guidelines for Advertisement, 2008 to make them more contemporary. Under the CA Act 1949, CAs and their firms are allowed to advertise through “write-ups” wherein the write-up should not include the names of the clients (both past and present), and its font size should not exceed 14 points. The exposure draft has proposed to remove the limit on font size and the requirement