ICAI Suspends Practicing CA for Engaging in Full-Time Govt Job:

ICAI Suspends Practising CA for Engaging in Full-Time Govt Job The Institute of Chartered Accountants of India (ICAI) has taken disciplinary action against a Chartered Accountant for engaging in a full-time government job despite holding a full-time Certificate of Practice (COP). The complaint was filed by CA Kumar Hari, accusing CA Ranjit Kumar of working as a Chief Finance Officer in a government organisation in Bihar named Jeevika while holding a full-time COP.

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Clause (11) of Part I of the First Schedule to the Chartered Accountants Act, 1949, and Regulation 190A of the Chartered Accountants Regulations, 1988, prohibit a practising chartered accountant from engaging in any business or occupation other than accountancy unless the ICAI permits them to do so. CA Ranjit Kumar claimed that he was working on a contractual basis. However, Jeevika's official staff list submitted by the complainant showed that Ranjit's name was mentioned as a full-time Chief Financial Officer, and the same was confirmed by the organisation's official website. His counsel argued that Ranjit had been holding the COP since 2005 and engaged in the job since 2015, but due to work pressure, he could not surrender his COP and the same was surrendered in 2024. However, the accused failed to submit the required documents, including the appointment letter, employment contract, salary slips, income tax returns or Form 26AS to substantiate his claim.

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ICAI Levies Penalty on CA for Undertaking Statutory LLP Audit Without Obtaining NOC from Previous Auditor

After examining the facts, the ICAI Board of Discipline concluded that CA Ranjit Kumar had violated Clause (11) of Part I of the First Schedule to the Chartered Accountants Act, 1949, read with Regulation 190A of Chartered Accountants Regulations, 1988, and Appendix (9) of the Code of Ethics, 2009, which prohibits double engagement. As a punishment, the board removed the name of CA. Ranjit Kumar from the Register of Members for one month.