ICMAI Issues Advisory Against Illegal Activities to Protect Institute’s Integrity and Discipline

The Institute of Cost Accountants of India (ICMAI) has issued a strict warning to its members, advising them not to engage in any unauthorized activities that could damage the Institute’s reputation, governance, or legal framework. The notice, signed by CMA (Dr.) D.P. Nandy, Secretary (Officiating), lists certain actions as unethical and warns that those involved may face disciplinary action.

1. Formation of Illegal or Unauthorized Association: Members cannot organize or establish any cost and management accounting forums, organizations, or groups in the name of, by the use of, or under the influence of ICMAI without permission. The Institute alerts that those groups will mislead individuals and can attract disciplinary measures.

2. Unauthorized Communication with Government Officials: The advisory instructs members not to approach central ministers directly, government officials, regulators, or policymakers to represent their personal views in the name of ICMAI or the profession. The members should refrain from discussing professional issues with the government committee members unless they seek permission in advance. The Institute concentrated on publishing unverified information might result in misunderstanding and miscommunication of the official view of ICMAI.

3. Unsanctioned Requests to Government Bodies: ICMAI has strictly directed its members not to put petitions, memorandums, or requests before parliamentary committees or the government without approval. Any such submissions must first be approved and sent through the Institute’s official process.

4. Unethical and Illegal Activities for Personal Branding: The Institute has warned against using unauthorized connections to gain personal recognition, promote a brand, or gain influence, stating that such actions are misconduct. These activities break ethical rules and damage ICMAI’s reputation and trustworthiness.

Results of Violation

ICMA has announced that any member who is engaged in such illegal activities will be dealt with severely under the Cost Accountant Act, 1959, and the rules thereunder. The Institute has directed all members to adhere to the guidelines and uphold the dignity, discipline, and professional integrity of ICMAI. Any professional requests or grievances should be routed through the official channels of the Institute for overall consideration.