ICAI bans a chartered accountant for audit in excess of prescribed numbers

ICAI bans a chartered accountant for doing audit in excess of prescribed numbers

The Disciplinary Committee of the ICAI has held CA. Deepak Kedia (Membership No. 029842), BENGALURU, guilty of Professional Misconduct.

Previously, the ICAI had taken action in terms of the provisions of Section 21B(3) of the Chartered Accountants Act, 1949 read with Rules 18(17) and 19(1) of the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007.

As per the action taken, a fine of Rs. 1000/- for each case of audit conducted in excess of the number stipulated in the Guidelines which comes to Rs. 4,72,000/- had been imposed. and in case of failure to deposit the fine within the stipulated time i.e. 3 months, his name should be removed from the Register of Members for a period of one month.

However, in view of the failure of the said Chartered Accountant to deposit the imposed fine in terms of the Regulation 18 of the Chartered Accountants Regulations, 1988, has removed the name of CA. Deepak Kedia from the Register of Members for a period of one month with effect from 11th January, 2022.

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