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

## Report on Notification Regarding Disciplinary Action Against Chartered Accountant **1. Executive Summary:** This report analyzes a notification issued by the Institute of Chartered Accountants of India (ICAI) on February 15, 2021, concerning disciplinary action against CA. Asok Guha. The core purpose of this notification is to inform the public and the accounting profession that CA. Guha has been found guilty of professional misconduct and has been removed from the Register of Members for a period of two years. The key finding is the enforcement of disciplinary measures as per the Chartered Accountants Act, 1949, and its associated rules and regulations. **2. Introduction:** This report aims to provide a comprehensive overview of a notification published in the Gazette of India on February 15, 2021, regarding disciplinary action taken by the Institute of Chartered Accountants of India (ICAI) against one of its members. The analysis is based solely on the information provided in the notification. **3. Policy Overview:** This notification pertains to the enforcement of disciplinary measures outlined in the Chartered Accountants Act, 1949, and associated rules and regulations. * **Core Objective(s):** * To enforce ethical and professional standards within the chartered accountancy profession. * To publicly notify the disciplinary action taken against a member found guilty of professional misconduct. * To maintain the integrity and credibility of the ICAI and its members. **4. Background and Rationale:** This notification concerns the disciplinary action taken against a member found guilty of professional misconduct. The notification serves to uphold professional standards and maintain public trust in the chartered accountancy profession. The misconduct necessitated disciplinary measures to ensure accountability and deter similar actions in the future. **5. Key Provisions / Changes:** This notification is a *result* of the act, not an amendment itself, but the notification outlines enforcement as per the Chartered Accountants Act, 1949. * **What specific part of the original policy is being changed (if discernible from the text).** N/A * **What the *new* rule/provision *is*, based *only* on the amendment text.** N/A * **Explain the *difference* or the *effect* of this specific change.** N/A This specific notification relates to the following: * **Removal from the Register of Members:** CA. Asok Guha, Membership No. 015143, is removed from the Register of Members of the ICAI for a period of two years. * **Grounds for Removal:** The removal is based on CA. Guha being found guilty of Professional Misconduct falling within the meaning of Clause 7 of Part I of the Second Schedule to the Chartered Accountants Act. * **Effective Date:** The removal is effective from February 15, 2021. **6. Target Audience and Stakeholders:** The target audience and stakeholders directly affected by this notification include: * **CA. Asok Guha:** The individual directly affected by the disciplinary action. * **Ms. U S Saha Co.:** The Chartered Accountants firm where CA. Guha was a member. * **The Institute of Chartered Accountants of India (ICAI):** The governing body responsible for enforcing professional standards. * **Members of the ICAI:** Who are subject to the same rules and expectations. * **Clients and the Public:** Who rely on the integrity and competence of chartered accountants. **7. Implementation Aspects (Inferred):** * **Responsible agency/bodies mentioned:** The Disciplinary Committee of the ICAI is responsible for conducting investigations and imposing disciplinary actions. The notification is issued by RAKESH SEHGAL, Acting Secy., under the authority of the Chartered Accountants Act, 1949, and the Chartered Accountants Regulations, 1988. * **Any timelines or procedures specified *in the text*?** The notification specifies that the removal is effective for a period of two years from February 15, 2021. The procedures followed are those outlined in the Chartered Accountants Act, 1949, read with Rules 1817 and 191 of the Chartered Accountants Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases Rules, 2007. **8. Expected Outcomes / Impact of Changes:** The likely intended outcomes of this notification include: * **Enforcement of Professional Standards:** Reinforcing the ICAI's commitment to upholding ethical and professional standards within the accounting profession. * **Deterrence of Misconduct:** Discouraging other members from engaging in similar professional misconduct. * **Protection of Public Interest:** Ensuring that the public can trust the integrity and competence of chartered accountants. * **Impact on CA. Asok Guha:** Temporary suspension of professional license. **9. Conclusion:** The notification regarding the disciplinary action against CA. Asok Guha underscores the ICAI's commitment to maintaining the integrity and credibility of the chartered accountancy profession. By publicly announcing the removal of a member found guilty of professional misconduct, the ICAI reinforces its dedication to upholding ethical standards and protecting the public interest. This notification serves as a reminder to all members of the importance of adhering to the highest standards of professional conduct.

Key Entities Referenced