Highest Number of CAs penalized in Year 2024-25: ICAI

According to the Institute of Chartered Accountants of India (ICAI), the highest number of chartered accountants (CAs) were disciplined for misconduct in 2024–2025. Over the previous 18 years, 2,771 chartered accountants were judged to have engaged in wrongdoing.

Newly elected President Charanjot Singh Nanda stated at a news conference that they had 118 meetings in 2024–2025. “270 hearings in all were concluded. After being found guilty, 241 CAs received fines ranging from Rs 5,000 to Rs 5 lakh and were suspended for 15 days to 5 years.

Nanda stated that 132 hearings were completed in 2023–2024, and 91 CAs were found guilty and dismissed in addition to receiving fines.

A total of 366 hearings were concluded in 2022–2023, and 119 CAs were found guilty.

Members have been found to be prima facie guilty of professional and/or other misconduct in 2771 cases since the current mechanism was established in 2007. These cases were referred for investigation to the Disciplinary Committee under Section 21B and the Board of Discipline under Section 21A of the Chartered Accountants Act 1949.

The Board of Discipline has held hearings in 2,354 of the 2771 instances that were assigned for investigation after providing the parties with a fair chance to be heard.

In 1072 of the 2354 cases where the hearing has been completed, the member or members in question have been found guilty of Professional and/or Other offenses.

The President of the ICAI stated that the government has drafted a “very good bill, and they have invited suggestions” in reference to the New Income Tax Bill.

In order for the average person to understand the language, he recommended that the government make it simpler.

According to Nanda, ICAI would establish 39-member study groups nationwide to examine the bill and offer recommendations for improving it.

Nanda was chosen to serve as ICAI’s 73rd president from 2025 to 2026.

As of February 12, 2025, Prasanna Kumar D has been chosen Vice-President of the ICAI. Arjun Ram Meghwal, Minister of State (Independent Charge) for Law and Justice and Parliamentary Affairs, administered the oath of office.