In terms of the provisions of Section 21B3 of the Chartered Accountants Act

## Report on Disciplinary Action by the Institute of Chartered Accountants of India **1. Executive Summary:** This report analyzes a notification from the Institute of Chartered Accountants of India (ICAI) regarding disciplinary action against CA. Swapan Acharjee. The core purpose of this notification is to inform the public and relevant stakeholders that CA. Acharjee has been found guilty of professional misconduct and, as a result, his name has been removed from the Register of Members for a period of four months, including an additional month due to non-payment of a fine. The key finding is the specific penalty levied against the individual and the implementation of that penalty. **2. Introduction:** This report provides an overview and analysis of a notification issued by the Institute of Chartered Accountants of India (ICAI) concerning disciplinary action taken against one of its members. The report is based solely on the information provided in the policy text. **3. Policy Overview:** This is a disciplinary action, acting under the authority of existing regulations. It does not establish new policy, but enacts policy and can therefore be thought of as an enforcement of policy. * **Core Objective(s):** Based on the text, the core objectives are: * To enforce professional conduct standards among Chartered Accountants. * To penalize instances of professional misconduct. * To maintain the integrity of the Register of Members. * To ensure compliance with disciplinary orders, including the payment of fines. **4. Background and Rationale:** This is an enforcement action rather than a new policy. The document indicates that CA. Swapan Acharjee was found guilty of Professional Misconduct under the Chartered Accountants Act, 1949. The notification serves to communicate the outcome of the disciplinary proceedings and the consequences for the member. The reason for the notification is to inform the public and other stakeholders of the disciplinary action taken and to ensure the updated Register of Members accurately reflects the current standing of its members. The addition of one month to the time period for removal from the Registry is due to the failure to pay the fine in the original time period. **5. Key Provisions / Changes:** This is an action implementing existing provisions, not an amendment. The key change being implemented is the removal of CA. Swapan Acharjee's name from the Register of Members. * **What specific part of the original policy is being changed (if discernible from the text):** The action impacts the status of a member listed in the Register of Members. * **What the *new* rule/provision *is*, based *only* on the amendment text:** CA. Swapan Acharjee is to be removed from the register for a period of four months (an extension from the original three months, which was extended by one month due to failure to pay the fine). * **Explain the *difference* or the *effect* of this specific change:** CA. Swapan Acharjee will not be allowed to practice or represent himself as a Chartered Accountant during the four-month period. Any professional services offered or provided during this period would be in violation of the ICAI regulations. The Registry itself now shows the member as inactive. **6. Target Audience and Stakeholders:** Based on the text, the target audience and stakeholders include: * The Institute of Chartered Accountants of India (ICAI). * Members of the ICAI. * Clients and potential clients of Chartered Accountants. * Regulatory bodies and other relevant authorities. * The general public. **7. Implementation Aspects (Inferred):** * **Responsible agency/bodies mentioned:** The Disciplinary Committee of the ICAI and the Secretary of the ICAI are directly involved in this action. The Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi110064 and Published by the Controller of Publications, Delhi110054 are involved in the publishing of the document. * **Any timelines or procedures specified *in the text*?:** The removal is effective from December 16, 2022, for a period of four months. Originally, the fine was to be paid within 90 days. **8. Expected Outcomes / Impact of Changes:** The likely intended outcomes and impact of these changes are: * Enforcement of ethical and professional standards within the Chartered Accountancy profession. * Public awareness of disciplinary actions taken against members for misconduct. * Deterrence of future misconduct by members of the ICAI. * Maintenance of public trust and confidence in the Chartered Accountancy profession. * Temporary disruption to CA. Acharjee's practice and reputation. **9. Conclusion:** The notification regarding the disciplinary action against CA. Swapan Acharjee highlights the ICAI's commitment to upholding professional standards and taking action against members found guilty of misconduct. The removal from the Register of Members, extended due to non-payment of the fine, serves as a deterrent and reinforces the importance of adhering to ethical guidelines within the profession. This notification is a significant communication aimed at maintaining the integrity of the Chartered Accountancy profession and safeguarding public interest.

Key Entities Referenced