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May 2022

TIME BARRING

By C. N. Vaze
Chartered Accountant
Reading Time 4 mins
Arjun: Oh Lord! Save me!

Shrikrishna: Arey Arjun, you are sweating. Too much heat this year?

Arjun: Yes, Lord. But I didn’t remember you for this heat.

Shrikrishna: Then what for?

Arjun: This burden of Ethics! You say it is for our protection. But after all, it is a very heavy shield to hold continuously in hand. And the armour is often unbearably heavy.

Shrikrishna: True. But you have no option!

Arjun: That also I accept. But tell me, how long do we remain answerable for our work? Is there no time barring – as we have in income tax?

Shrikrishna: There is! But not in the sense that you have in mind. It is not a rigid or blanket limitation of time.

Arjun: Do you mean it is different for different types of misconduct? Like in income tax, we have different time limits depending upon the stakes involved.

Shrikrishna: Why don’t you read the relevant rules? The title of those rules is very long. Difficult to remember.

These rules may be called The Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007.
    
Arjun: Oh! I wonder how you remember this. For a short cut, let us call it as misconduct procedural rules.

Shrikrishna: Fine. See Rule 12.

Time limit on entertaining complaint or information – Where the Director is satisfied that there would be difficulty in securing proper evid
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