ICAI Defers Certain Provisions of Volume-I of Revised Code of Ethics, 2019

ICAI Defers Certain Provisions of Volume-I of Revised Code of Ethics, 2019 As members are aware, the revised 12th edition of the Code of Ethics went into effect on July 1, 2020. It is available at the following links on www.icai.org: Code of Ethics Volume – I https://resource.cdn.icai.org/55133CodeofEthics-2019.pdf Code of Ethics Volume – II https://resource.cdn.icai.org/60018code-of-ethics-2020vol2.pdf Code of Ethics Volume –III (Case Laws References) https://resource.cdn.icai.org/59111esb48239.pdf It should also be noted that the following provisions of Volume I of the Code of Ethics, 2019, which were previously postponed, were set to take effect on April 1st, 2022 (Ref. Announcement dt. 26.7.2021 at https://www.icai.org/post/esb-applicable-date-of-certain-deferred-provisions ) :- 1. Responding to Non-Compliance with Laws and Regulations (NOCLAR) [Sections 260 and 360] 2. Fees - Relative Size [Paragraphs 410.3 to R410.6] 3. Tax Services to Audit Clients [Subsection 604] The Council decided at its 410th Meeting on the 24th and 25th of March, 2022, that the applicability of the aforementioned provisions be further delayed for six months (i.e. until the 30th of September, 2022) to ensure effective adoption and implementation by the membership at large. A timeline for the implementation of these provisions will be announced as soon as possible.