Disappointed CAs Oppose CA Amendment Bill: Is IIA part of CA Amendment Bill

The CA, CWA, and CS(Amendment) Bill 2021 was passed in Lok Sabha today. Also Refer: Setback to ICAI: Parliamentary panel recommends Setting Up of IIAs similar to IIT and IIM for Accounting & Finance Profession [Read Report]

However, most of Chartered Accountants (CAs) have opposed this bill on Twitter.

ICAI President addressed Members over the issue of Parliamentary Committee Report for Setting Up of IIAs

One of the CA, Mr. Yash Dhanuka wrote on Twitter:

This is not competition, this is foolishness. Have u seen CPAs in USA, Canada, Australia having 2 bodies giving the same CPA certification? There is no sense of creating #IIA, instead do whatever u want to do with #ICAI, this won’t create chaos among members, clients or students

Another CA Prateek Babel wrote on Twitter that: Respected sir
@PiyushGoyal

@sureshpprabhu
you both are #CA . You do understand how prestigious this degree is . Please dont ruin our hardwork and efforts by passing such #IIIA bill today 🙏🙏 Save #CAs Save
@theicai

@AniketTalati

@drdebashismitra
Save #ICAI autonomy🙏

CA Institute will Not Spare fraudulent CA, But Don’t Paint Everyone With The Same Brush: Debashis Mitra, President

CA Chetan Joshi:

Respected sir
@PiyushGoyal

@sureshpprabhu
you both are #CA . You do understand how prestigious this degree is . Please dont ruin our hardwork and efforts by passing such #IIIA bill today 🙏🙏 Save #CAs Save
@theicai

@AniketTalati

@drdebashismitra
Save #ICAI autonomy

https://twitter.com/chetanjoshi_007/status/1509068690268254208

The bill seeks to introduce some major changes in ICAI’s disciplinary committee, which would now have of five members, including three non-CAs and the Secretary, Ministry of Corporate Affairs (MCA) as chairman.

Setting up of Indian Institutes of Accounting suggested: CA, CWA, and CS (Amendment) Bill [Read Report of Parliament Panel]

However, the Bill has nothing to do with the Indian Institute of Accounting (IIA). Indian Institute of Accounting and its implementation is a parliamentary panel in a proposal. It would take some time to become a bill and to be introduced in the houses of Parliament.

When implemented, same is going to have a huge impact.