After facing severe flak, chartered accountants’ apex body ICAI has withdrawn a controversial diktat that was seen as a purported gag order warning its members against making public any “negative personal views” regarding the government’s demonetisation move “in a remote possible way”.
The “advisory”, a copy of which was purportedly also published on ICAI’s website, invoked “the spirit of the ICAI — Partner in Nation Building” to ask all its members “to be more cautious and careful while advising their clients, sharing/writing their views on any platform regarding demonetisation and work towards the best interest of the nation”. After severe criticism from various quarters, the advisory has been pulled out from the website.
Separately, ICAI has also clarified that a purported audio clip in the name of its President M Devaraja Reddy, containing views on economic matters such as demonetisation and tax reforms, doing the rounds on social media is “fake”.
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“It is clarified that the said audio clip is a fake one and the voice therein is not of CA M Devaraja Reddy. It is emphatically stated that the audio clip is fake and put in circulation to malign the image of the institute. The views expressed in the said audio clip do not represent the views of Reddy or the Council of ICAI,” it added.
On demonetisation, the ICAI (Institute of Chartered Accountants of India) has now issued a fresh advisory for its members from Reddy wherein the members have been “requested not to indulge into any type of questionable practices which may bring disrepute to the profession.”
The new advisory further says that the members “are specifically advised to render professional services within framework of the applicable laws and ICAI Code of Conduct, upholding and elevating the high standards enjoyed by the profession and keeping overall national interests in mind with true spirit of the principle of ICAI — Partner in Nation Building”.
The earlier diktat, issued in the backdrop of alleged misconduct of some chartered accountants for purportedly advising their clients on ways to convert their black money post demonetisation, cautioned all members “to watch the national interest as the upper most while advising their clients.”