In pursuance thereof and in exercise of the powers conferred by subsection 2 of Section 20 of the aforesaid Act,

## Report on Notification Regarding Chartered Accountant Disciplinary Action **1. Executive Summary:** This report analyzes a notification issued by the Institute of Chartered Accountants of India (ICAI) regarding disciplinary action taken against CA. Harishkumar Bhaishankar Purohit. The notification details the temporary removal of his name from the Register of Members due to professional misconduct. The core purpose of this notification is to publicly announce and enforce the Disciplinary Committee's decision, ensuring accountability and transparency within the profession. **2. Introduction:** This report aims to provide an informative overview of the ICAI notification, dated February 15, 2021, concerning disciplinary action against a Chartered Accountant. The analysis is based solely on the content of the provided policy text. **3. Policy Overview:** This notification relates to the enforcement of disciplinary actions under the Chartered Accountants Act, 1949. The core objective, as inferred from the text, is to maintain professional standards and ethics within the Chartered Accountancy profession by enforcing penalties for misconduct as determined by the Disciplinary Committee. **4. Background and Rationale:** The policy text does not describe a new policy. This is an enforcement of disciplinary action based on the Chartered Accountants Act, 1949. The reason for this specific action against CA. Harishkumar Bhaishankar Purohit stems from a finding of professional misconduct. This action likely aims to deter similar misconduct by other members and uphold public trust in the profession. **5. Key Provisions / Changes:** This notification concerns the enforcement of disciplinary actions. Specifically, the notification details: * The Disciplinary Committee found CA. Harishkumar Bhaishankar Purohit guilty of Professional Misconduct. * This misconduct falls under Clauses 5, 6, 7, and 8 of Part I of the Second Schedule of the Chartered Accountants Act. * The consequence of this misconduct is the removal of CA. Purohit's name from the Register of Members for a period of 15 days. * The removal is effective from February 15, 2021. **6. Target Audience and Stakeholders:** The primary target audience is the members of the Institute of Chartered Accountants of India (ICAI). This action serves as a reminder of the consequences of professional misconduct. Other stakeholders include clients of CA. Purohit, the general public, and regulatory bodies concerned with financial accountability and ethical conduct. **7. Implementation Aspects (Inferred):** * **Responsible Agency:** The Institute of Chartered Accountants of India (ICAI), specifically through its Disciplinary Committee and Secretary, is responsible for implementing this action. * **Timelines:** The removal from the Register is effective from February 15, 2021, and lasts for 15 days. * **Procedures:** The action follows the procedures outlined in Section 21B3 of 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, and Regulation 18 of the Chartered Accountants Regulations, 1988. **8. Expected Outcomes / Impact of Changes:** The intended outcome of this action is to penalize CA. Purohit for his misconduct and to serve as a deterrent to other members of the ICAI. The temporary removal from the register will likely impact CA. Purohit's ability to practice during the 15-day period. The public notification also aims to maintain transparency and accountability within the profession, bolstering public confidence. **9. Conclusion:** The ICAI notification regarding the disciplinary action against CA. Harishkumar Bhaishankar Purohit highlights the Institute's commitment to upholding professional standards and ethics. The temporary removal from the Register of Members underscores the consequences of professional misconduct and serves as a reminder to all members of their ethical obligations. This action is significant in maintaining the integrity and credibility of the Chartered Accountancy profession.

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