ICAI Notifies Cancellation of CoP of 709 Chartered Accountants on Ground of Non-desire to Continue and Non-payment of Annual Fee [Read Notification]
ICAI Notifies Cancellation of CoP – ICAI Notifies Cancellation – ICAI – Cancellation – CoP – Chartered Accountants – Non-payment of Annual Fee – Annual Fee – Taxscan – taxnews
ICAI Notifies Cancellation of CoP – ICAI Notifies Cancellation – ICAI – Cancellation – CoP – Chartered Accountants – Non-payment of Annual Fee – Annual Fee – Taxscan – taxnews
The Institute of Chartered Accountants of India (ICAI) notified the Cancellation of Certificate of Practice (CoP) of 709 Chartered Accountants on grounds of non-desire to continue and non-payment of annual fee on 3rd July 2023.
According to Regulation 10(1)(iv) in conjunction with Regulation 10(2)(b) of the Chartered Accountants Regulations, 1988, the Certificate of Practice of 104 members issued was revoked as of 01.03.2020. This action was taken due to their failure to pay the annual fees for the Certificate of Practice(CoP).
Furthermore, the CoP of a collective of 605 members was revoked due to their lack of interest in continuing their professional practice. All 605 members have expressed their disinterest in pursuing further practice.
Notifying the CoP of 605 members, the notification states that “In pursuance of Clause (iii) of Regulation 10(1) of the Chartered Accountants, Regulations, 1988, it is hereby notified that the Certificate of Practice issued to the following members have been cancelled with effect from the date mentioned against their names, as they do not desire to hold their Certificate of Practice”.
In accordance with Regulation 20 of the Chartered Accountants Regulations 1988, the Council of the Institute of Chartered Accountants of India, in compliance with the authority granted by Regulation 19 of the aforementioned regulations, has reinstated a total of 1319 members to the Register of Members. The restoration is effective from the dates specified alongside their names.
The notification also comprised a roster of chartered accountants who were expelled from the Register of Members for failing to pay the prescribed fees. In total, the Institute of Chartered Accountants of India (ICAI) has removed 3665 members.
The aforementioned list also consists of the names of Chartered Accountants who were voluntarily removed from the register of members upon their own requests, as well as those who were removed due to their death.
To Read the full text of the Order CLICK HERE
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