Non adherence to RBI Circular Prior to Issue of Audit Report is Professional Misconduct: ICAI Reprimands CA along with Fine of Rs 1 lakh

adherence - RBI - Audit- Report - Professional- Misconduct-ICAI - CA -TAXSCAN

The Institute of Chartered Accountants of India (ICAI), reprimanded a Chartered Accountant (CA), imposed a fine of Rupees one lakh and held that non-adherence to Reserve Bank of India (RBI) Circular prior to issue of audit report is professional misconduct. Information was received from RBI alleging major differences in the assessment of net profit and Bad…

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