Chartered accountants body advises members not to criticise note ban, social media going nuts

The members are also advised not to share /write any negative personal views, ICAI president said

Chartered accountants body advises members not to criticise note ban, social media going nuts

An advisory issued by the Institute of Chartered Accountants of India (ICAI) on demonetisation is going viral on social media as it forbids its members from opposing note ban.

ICAI, set up by an act of parliament, cautioned its members to watch the national interest as the upper most while advising their clients and not to indulge in any nefarious act to subvert the intentions of the Government in any remote possible way.


“The members are also advised not to share /write any negative personal views by way of an article or interview on any platform regarding demonetization,” the advisory issued by M. Devaraja Reddy, President of ICAI.


The statement said the decision to caution its members has been taken in the backdrop of alleged act of professional misconduct committed by its members.

“The alleged act of professional misconduct committed by these members is totally unacceptable to the ICAI and the acts of such members go completely against the stand of ICAI which is fully and whole-heartedly behind the Government of India in all its endeavours,” Devaraja Reddy said.

“The ICAI in its quick efforts to discourage and condemn such alleged misconduct by some of its members, is acting in the best proactive manner. So far 6 cases have come to the notice of ICAI,” he added.

According to the statement, the organization has issued notices to its 4 members calling upon them to submit their written statement.

Meanwhile,  the Chartered Accountants body also issued a clarification over a fake audio clip in circulation under the name of President, ICAI.

“It has been brought to our attention that a fake audio containing views on economic matters, inter alia, demonetization, tax reforms etc. is in circulation on Social media including Whatsapp in the name of CA. M. Devaraja Reddy, President, ICAI,” the body stated.

“It is clarified that the said audio clip is a fake one and the voice therein is not of CA. M. Devaraja Reddy, it added.