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February 2025

Misconduct and Punishments

By C. N. Vaze, Chartered Accountant
Reading Time 4 mins

Arjun: Hey Bhagwan, today, all CAs are under tremendous tension due to the fear of Regulators.

Shrikrishna: Really? How many Regulators are frightening you?

Arjun: Practically. All of them! Our Disciplinary Committees, NFRA, CBK, SFIO, EOW – all are after us. We can’t breathe freely!

Shrikrishna: Yes. I heard that many CAs are suffering from stress at a young age and a few are even dying due to the pressure of work.

Arjun: And regulators like MCA, Tax Authorities, Registrars of Co-op. Societies, RBI, SEBI. Charity Commissioners are vying with one another in sending complaints or information to the ICAI. CBI makes even the auditors as co-accused in the frauds basically committed by the management.

Shrikrishna: Yes, Parth. Today, I am told, many CAs are on bail and a few are in jail.

There is no strong agency to stand behind you firmly and strongly. There is no unity amongst you. So, many CAs are suffering harassment.

Arjun: True. Their lives have become miserable. They cannot even afford the litigation expenses, lawyer’s fees, etc. This is in addition to the loss of bu

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