Ethical Standards Board

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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 analyse various matters relating to Code of Ethics governing the members of the Institute and respond to the queries of the members and other stakeholders. 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. To establish ethics standards for Chartered Accountants for regulation. To review Code of Ethics periodically and publish the revised Code of Ethics. To bring out Publications, FAQs, Videos, Podcasts, e-Newsletters relating to Ethics and to conduct studies on the topics relating to Code of Ethics and also constitute study groups for the same. To promote awareness amongst Chartered Accountants and other stakeholders through outreach programmes/ Seminars/ conferences/ Webinars/ Webcasts/ Training Workshops/ conduct Quiz contests etc. and enhancing confidence in the integrity, objectivity, competence and professionalism of members and to co-ordinate with other Committees in this regard. To facilitate training and to organise Faculty Development Programmes. To maintain the dedicated portal -caconnect.icai.org for the benefits of stakeholders and activities for promoting its awareness. To develop/upgrade the dedicated website/portal ethics.icai.org for the benefits of members and other stakeholders and activities for promoting its awareness. To represent/participate at Government Authorities, Ministries, Industry Associations, Chamber of Commerce etc.

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. Priti Paras Savla, Chairperson CA. Dayaniwas Sharma, Vice-Chairman

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Knowledge Sharing

Significant Achievements/Initiatives of Ethical Standards Board 2023-24 and 2024-25 Recent Decisions of Ethical Standards Board Announcements Clarifications Publications One Time Publication Guidelines/ Features

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