CA Amendment Act, 2022

Shrikrishna: Oh, Arjun, your July pressure is over! So, relaxing now?

Arjun: Yes, a little bit. Good monsoon, chilled climate. And the next deadline is 31st October.

Shrikrishna: Here is something that will not only wake you up, but shake you up!

Arjun: Really? Lord, don’t frighten me and spoil my mood. What is that?

Shrikrishna: Your CA Act is amended, particularly in respect of disciplinary mechanisms.

Arjun: I had heard about it but didn’t know the details. It’s good to hear from you.

Shrikrishna: First, the amendment is giving some relief. You know that once a complaint is lodged or information is provided, it takes a long time to settle. The process is expensive and time-consuming. Many times the complaints are frivolous, meaningless and without any substance.

Arjun: Yes. I agree. So, what have they done?

Shrikrishna: Now, once the complaint or information is received, the Director Discipline will decide whether the complaint or case is actionable or liable to be closed as non-actionable.

Arjun: Oh! Very good. That will save a lot of trouble for our CAs and save money and professional time for all concerned, including our Institute.

Shrikrishna: True. For this, he may call for additional information by giving 15 days’ notice to the complainant or informant. If he finds it non-actionable, he has to refer it to the Board of Discipline for its concurrence. If the Board disagre