In pursuance thereof and in exercise of the powers conferred by sub section

## Report on Notification Regarding Removal of Chartered Accountant from Register of Members **1. Executive Summary:** This report analyzes a notification from The Institute of Chartered Accountants of India (ICAI) regarding the removal of CA. Sivaraman S. from the Register of Members for a period of three months, effective February 15, 2021. This action stems from a finding of professional misconduct by the Disciplinary Committee, as defined by the Chartered Accountants Act, 1949 and related rules. The key finding is the temporary removal of a member due to a violation of professional standards. **2. Introduction:** This report aims to provide an informative overview of a notification issued by The Institute of Chartered Accountants of India (ICAI), published in the Gazette of India on February 15, 2021. The report focuses on the details and implications of the removal of a Chartered Accountant from the Register of Members, based solely on the information contained within the provided text. **3. Policy Overview:** * This notification relates to the existing regulatory framework governing Chartered Accountants in India, specifically the Chartered Accountants Act, 1949, and the Chartered Accountants Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases Rules, 2007, and the Chartered Accountants Regulations, 1988. * **Core Objective:** The core objective, as inferred from the text, is to maintain professional standards and ethical conduct within the Chartered Accountancy profession by enforcing disciplinary actions against members found guilty of misconduct. **4. Background and Rationale:** The notification suggests that CA. Sivaraman S. was found to have engaged in professional misconduct. The notification indicates a disciplinary process, involving investigation and a finding of guilt by the Disciplinary Committee. The rationale for this notification is to inform the public and the profession about the disciplinary action taken against a member who violated the established code of conduct, thus reinforcing the integrity of the profession. **5. Key Provisions / Changes:** This document is a notification of a disciplinary action; therefore, it enacts a specific, targeted change: * **Specific Part of the Regulatory Framework Affected:** This notification implements Section 20 (2) of the Chartered Accountants Act, along with Regulation 18 of the Chartered Accountants Regulations, 1988. * **New Rule/Provision (or rather, its implementation):** The notification mandates the removal of CA. Sivaraman S. (Membership No. 018251) from the Register of Members of ICAI for a period of three months, effective from February 15, 2021. * **Effect of this Change:** This change results in CA. Sivaraman S. being unable to practice as a Chartered Accountant for the specified duration. This impacts his professional standing and ability to provide services as a CA. The register of members is updated to reflect this temporary removal. **6. Target Audience and Stakeholders:** The primary target audience includes: * **ICAI Members:** To inform them about disciplinary actions taken against fellow members and reinforce the importance of ethical conduct. * **Clients of Chartered Accountants:** To provide transparency regarding the professional standing of Chartered Accountants. * **Regulatory Bodies:** To maintain a record of disciplinary actions and ensure compliance with the Chartered Accountants Act, 1949. * **CA. Sivaraman S.:** Directly impacted by the disciplinary action. **7. Implementation Aspects (Inferred):** * **Responsible Agency/Bodies:** The Institute of Chartered Accountants of India (ICAI) is the responsible body for implementing the removal, specifically through its Disciplinary Committee and Secretariat. * **Timelines/Procedures:** The effective date of the removal is specified as February 15, 2021, and the duration is three months. The notification process involves publication in the Gazette of India. The Disciplinary Committee investigated the case and made the decision. * **Amendment-Specific Aspects:** The implementation involves updating the Register of Members to reflect the temporary removal. **8. Expected Outcomes / Impact of Changes:** The likely intended outcome of this action is: * **Deterrence:** To deter other Chartered Accountants from engaging in similar misconduct. * **Reinforcement of Ethical Standards:** To uphold and reinforce the ethical standards and professional integrity of the Chartered Accountancy profession. * **Public Confidence:** To maintain public confidence in the profession by demonstrating accountability and disciplinary measures. * **Impact on CA. Sivaraman S.:** The individual will be unable to practice as a CA for three months. **9. Conclusion:** The notification detailed in this report signifies the ICAI's commitment to maintaining professional standards and ethical conduct within the Chartered Accountancy profession. The temporary removal of CA. Sivaraman S. from the Register of Members serves as a disciplinary measure and a deterrent to others, ultimately aiming to uphold the integrity and credibility of the profession. The notification is a crucial part of the overall regulatory framework governing Chartered Accountants in India.

Key Entities Referenced