Endorsement of False Claim of CA Coaching Institute was Not Intentional: Actor Mohanlal Responds to ICAI Letter

False Claim of CA Coaching Institute - Actor Mohanlal Responds to ICAI Letter -CA Coaching Institute - ICAI Letter -Mohanlal - Malayalam Actor Mohanlal - ICAI - Endorsement - mohanlal reply - Mohanlal ICAI - taxscan

Actor Mohanlal has responded with a reply to the Institute of Chartered Accountants of India (ICAI), Kozhikode Chapter with regard to the controversial CA Course Advertisement.

The Institute of Chartered Accountants of India (ICAI), Kozhikode Chapter, had written to the actor on behalf of the coaching centers in the Kozhikode Region of Kerala, addressing their concerns about misleading students with false information about the qualifications offered

Read More: ICAI writes to Malayalam Actor Mohanlal for Endorsing False Claim of CA and ACCA Coaching Institute

The institute also ran print and video advertisements that are equally misleading, the ICAI Kozhikode Chapter had pointed out.

It was also clarified by the ICAI that ACCA and Chartered Accountancy or ‘CA’ are two distinct qualifications with their own unique requirements and qualifications. ACCA members cannot be considered as Chartered Accountants. It is important to note that ACCA members do not have signing authority in India, and they cannot act as statutory auditors in the country. Thus, misrepresenting ACCA as Chartered Accountancy [CA] was misleading and could cause confusion among potential students.

In view of the above, Mohanlal has replied to CA. Mujeeb Rahman M.K, Chairman, Kozhikode Branch of ICAI.

“The ground reality is that Lakshya offers ACCA courses besides providing coaching classes for students wanting to pursue a career in CA, CS and CMA”, he added.

 “I am told that the CA course coaching offered by Lakshya is one of their top line courses and is made with utmost care that involve students in, doing and in applying what they learned. This makes them the most sought-after coaching center providing CA course in Kerala from what I understand from the research done by my legal team”, he further added.

Being a commerce graduate himself, the actor stated that he fully understands that Chartered Accountants are those professionals who are qualified to take on specific activities within the spectrum of accountancy which includes matters such as auditing financial statements, filing tax returns, financial advising and management consultancy and that he is fully aware that this professional body that governs this group of accounting professionals is the prestigious and coveted ICAI.

“My office has taken up your concern   with the management of Lakshya and I am awaiting to hear from them on how best it can be resolved without misleading the authenticity of any courses offered at Lakshya or that may lead to harm the credibility of the other certified courses in the similar segment”, he said in assurance.

“I am sure you will realize that it certainly is not intentional from my part or from the part of the brand that I endorse to misrepresent ACCA as a Chartered Accountant of ICAI and I share your concern and respect your feelings”, the actor stated.

However, the actor Mohanlal also clarified that, “my role is limited to be their Brand Ambassador on a payment basis (which is my profession) and I would request you to write to Lakshya on the content/copy write of the advertisements in all forms of media whether audio, visual or print on how best they can rearticulate the message to be not misleading and misinterpreted.”

He also requested to let this matter be taken up by his office with the management of Lakshya, for further clarity in this regard.

The controversy has arisen when Commerce courses continue to be highly relevant. They provide students with a strong foundation in various aspects of business, finance, and economics and plenty of placement and career opportunities.

Commerce courses equip students with essential knowledge and skills related to business management, marketing, tax, accounting, finance, and entrepreneurship. These skills are vital for individuals looking to start their own businesses or work in managerial positions.

Commerce graduates have a wide range of career opportunities in various sectors such as tax, finance, accounting, consulting, retail, e-commerce, and more. The demand for professionals with commerce-related skills and knowledge continues to grow as businesses strive to stay competitive in the global market.

In an increasingly complex financial landscape, understanding concepts like budgeting, investment, taxation, and financial planning is crucial for individuals to make informed decisions about their personal and professional finances. Commerce courses provide the necessary knowledge to navigate these areas effectively and to secure a career with high potential for growth.

Support our journalism by subscribing to Taxscan premium. Follow us on Telegram for quick updates