Code of Conduct for ICAI Representatives elected Co-opted or Nominated wef 01-01-2017 in addition to Code of Ethics applicable to the members
Institute of Chartered Accountants of India has issued ICAI Code of Conduct for elected, Co-opted and Nominated Representatives .
The Code shall come into force from 1st January, 2017 and is in addition to the Institute‟s Code of Ethics applicable to the members of the Institute.
As per the Code, it applies to elected and nominated members to the Council, Regional Councils and Managing Committees of Branches; and also to members nominated by the Institute to other bodies, Co-opted members of the Committees of Council, Regional Councils, Branches and Committees of Overseas Chapters, Convenors /Deputy Convenors of Study Circles and CPE Chapters, and any other organs or establishments of Institute within or outside India.
The stated objectives of the Code is to assist, regulate & guide the Representatives in discharging their obligations and responsibilities to the constituted body, their constituents and the public at large by:
(a) providing guidance on the standards of conduct expected from the Representatives in discharging their statutory and public duties;
(b) ensuring accountability necessary to strengthen public confidence in the way in which Representatives perform those duties.
The General Guiding Principles of the Code are:
(e) Leadership by example
(f) Ethical values
Conflict of Self-Interest
As per the Code, The Representatives shall avoid any conflict of self-interest and if having an interest in any issue, shall restrain himself from participating in any related proceeding and voting in the matter.
Gifts and Hospitality
AS per the code, the Representative or his relative/partner shall not accept fee, advance, gift or personal benefit connected directly or indirectly with the performance of his official duties, unless permitted by the exceptions provided.
Representative shall not participate in social activities except in his/her individual capacity. The assets & resources of ICAI shall not be utilised for any political purposes.
Management and use of Institute’s resources
As per the code, the Representatives shall exercise due care and diligence in managing and using ICAI’s funds and shall not do anything that may lead to the Institute‟s resources being used for direct or indirect personal benefit.
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