Dear Sir,

*Revised Code of Ethics*

This refers to the Article by CA. Kemisha Soni on the 12th Edition of the Code of Conduct issued by ICAI, effective from 1st July, 2020, published in the September 2022 issue of BCAJ. It is quite lucid, informative, and useful, giving a Bird’s Eye View of very voluminous Code of Conduct. She deserves our compliments.

It was quite a revelation that Volume 1 itself has about 1,000 Sections. One really wonders how many CAs in Practice and Industry have read it or are even aware of the Revised Code of Conduct which is quite comprehensive and onerous.

In recent times, NFRA has become quite active and has imposed hefty fines and punishment by debarring CAs from Practice for extended periods for various breaches and violations of the Accounting and Auditing Standards, and Disclosure Requirements under the Companies Act. Earlier the delinquent members could get away lightly by facing reprimands by ICAI.

It is quite likely that in the future our Members in Practice and Industry will face very stern Regulatory Action for breaches of the Code of Conduct.

It is therefore very essential that many more Articles need to be published covering various aspects of the Code to create greater awareness of the requirements of the Code, besides Organising Lecture meetings on the subject, to sensitise our members.

CA Tarunkumar G. Singhal