Ethical Standards Board

Chairman, Ethical Standards Board
CA. Chandrashekhar Vasant Chitale

Phone: +91 9822088833
Mobile: +91 9822088833

E-mail:

Purpose & Objective

Purpose:

“The Institute of Chartered Accountants of India (ICAI) is a statutory body established under The Chartered Accountants Act, 1949 for the regulation of the profession of Chartered Accountants in India. The Council of ICAI is empowered to discharge the provisions of the Act, and regulate and maintain the standards of the profession. In pursuance of this, ICAI has established the Ethical Standards Board to function as standard setting body. The Ethical Standards Board develops and issues ethical standards and other pronouncements for chartered accountants. It works towards evolving a dynamic and contemporary Code of Ethics and ethical behaviour for members while retaining the long cherished ideals of `excellence, independence, integrity’ as also to protect the dignity and interests of the members”.

Objective:

The objective of Ethical Standards Board is to set up ethical standards for chartered accountants, converge with the International best practices on ethics, subject to local laws, thereby enhancing the quality and consistency of services provided by chartered accountants and strengthening the public confidence in the profession.

Terms of Reference

  • To examine various issues concerning Code of Ethics governing the members of the Institute.
  • To establish standards for Chartered Accountants for regulation and maintenance of status and standards of professional qualification of members of the Institute
  • To examine and advise on any ethical matters referred to the committee.
  • To review periodically and publish the revised Code of Ethics and their publications relating to ethics.
  • To promote public awareness and confidence in the integrity, objectivity, competence and professionalism of members and to co-ordinate with other Committees.
  • To examine and deal with the complaints of members against their unjustified removal as auditors of any entity as per procedure evolved and to take necessary steps to protect the interest of the members.
  • The Ethical Standards Board will review the terms of reference at every two years

Form of Complaint/Statement of Reasons for unjustified removal of auditor to be filed before the Ethical Standards Board.
 

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Members

  • CA. Chandrashekhar Vasant Chitale, Chairman
  • CA. (Dr.) Rohit Ruwatia, Vice-Chairman
  • CA. Charanjot Singh Nanda, President (Ex-officio)
  • CA. Prasanna Kumar D, Vice-President (Ex-officio)
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