The Institute of Chartered Accountants of India (ICAI) reprimanded Chartered Accountants (CA) for non-issuing of Revised Audit Report.
It was alleged that there was a difference of Rs 1,56,864/- in the corresponding Balance Sheets of the Namaskar Co-operative Housing Society for the financial year 2011-12 which was Rs 1,62,38,638/- and the opening balance as per Balance Sheet in the next year was Rs 1,63,95,502/-.
The Respondent, while accepting her mistake, submitted that the error was regarding the non-mentioning of the word “Revised” in her audit report. She further submitted that this omission is purely technical in nature.
It was found that the Respondent accepted her mistake before the Committee and that the error was purely technical in nature. Further, there is no evidence to establish that the Respondent had any mala fide intention.
The committee comprising CA. Ranjeet Kumar Agarwal, Presiding Officer, Mrs. Rani Nair, Shri Arun Kumar, CA. Rajendra Kumar P, CA. Cotha S Srinivas found that the respondent is guilty of professional misconduct falling within the meaning of Item (7) of Part I of the Second Schedule of the Chartered Accountant Act 1949.
The Committee decided to give the Respondent a minimum punishment and ordered that “the Respondent, CA. Parnika Gajanan Adkar (M. No. 121112), be reprimanded.
Subscribe Taxscan Premium to view the JudgmentSupport our journalism by subscribing to Taxscan premium. Follow us on Telegram for quick updates
