ICAI Condemns News Paper Article containing disparaging Remarks Against Chartered Accountants

ICAI - News Paper Article - Chartered Accountants - taxscan

The Institute of Chartered Accountants of India (ICAI), in a letter to the editor of Deccan Herald, has condemned the article recently published in the newspaper with disparaging remarks against Chartered Accountants (CAs). The article was written by Mrin Agarwal, the Director of Finsafe India.

The article said, “CAs are tax experts whose guidance needs to be taken only for tax related matters.” It was further stated in the published article that Chartered Accountants do not know how to evaluate funds or create a financial plan.

It was also mentioned in the article that Chartered Accountants cannot really give opinions based on a product analyzing if it will fit in the portfolio of the investors.

It was condemned that the reputed newspaper published the article containing the derogatory remarks in a way that the credentials of the CA profession was immensely damaged.

It was further clarified by the ICAI that Chartered Accountants are experts in areas of finance and related matters and are qualified and competent to examine and comment on financial statements of any entity.

The official communication from ICAI, the statutory body set-up under an Act of Parliament to regulate and maintain the standards of the Chartered Accountant profession and its professional qualifications requested the newspaper to dispel the adverse opinions expressed in the article and to adopt steps for a suitable publication to clear the doubts in the minds of the readers.

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