January 2019

ETHICS AND U

Chandrashekhar Vaze
Chartered Accountant

Arjun (A) — O’ Lord, you have always been telling me the importance of ethics; but ……...

 

Shrikrishna — ‘But what, Arjun?

 

A — In practice, it is very difficult.  I will have to close down my practice.  Whatever I do, there is some misconduct or the other.  Just not possible to escape.

 

S — (smiles). What you say is largely true.  But ultimately, it is in your own interest to follow the rules of ethics.

 

A — How?  Many times it is a burden.

 

S — You are mistaken.  Yours is not only a profession; but a mission!

 

A —This is very philosophical and idealistic.

 

S —Listen, the very foundation of any profession is credibility.  If that is lost, not only that individual member but the entire profession suffers.

 

A — It’s really a challenge.  Just think, we as chartered accountants are answerable to so many authorities – MCA, SEBI, Tax authorities, Bankers, RBI, FEMA, Labour law authorities, authorities under many economic laws and most importantly, our client!  This is

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