ICAI notifies 71st Annual Report highlighting the important activities of the Council and its various Committees during the year 2019-2020

ICAI notifies 71st Annual Report

The Institute of Chartered Accountants of India ICAI notifies 71st Annual Report, which highlighted the important activities of the Council and its various Committees during the year 2019-2020.

“The Chartered Accountants Foundation, Intermediate, Intermediate (IPC) and the Final (Old and New) Examinations were smoothly conducted all over the country and abroad in 479 centers from 2nd May to 17th May, 2019. The total numbers of candidates, who appeared in the said Foundation, Intermediate, Intermediate (IPC) and the Final (Old and New) and passed,” the ICAI, while stating about the May 2019 Examinations said.

The ICAI reported that the Special Examination for the members of The Institute of Certified Public Accountants in Australia (CPA Australia) desirous of membership of ICAI was successfully conducted from June 17th to 20th, 2019 in New Delhi, which arose out of the Mutual Recognition Agreement or Memorandum of Understanding entered with the foreign professional accounting body.

ICAI embarked on an integrated web-interface called Student Exam Life Cycle Management Project, wherein CA students using a single user ID and password, can access various examination related services, including the application for duplicate mark sheets or pass certificates or transcripts, change of center or medium, or group, downloading admRegional Offices cards, checking results, and applying for verification or seeking certified copies of answer books post result etc. from exam to exam.

“During the current Council year 2020-2021, a new bench of the Disciplinary Committee has been constituted and thus with the four Benches of the Disciplinary Committee i.e. Bench I, Bench II, Bench III and Bench IV and the Board of Discipline, it is expected to have an expeditious disposal of cases under inquiry apart from the consideration of the Prima Facie Opinion formed by the Director (Discipline). In addition, the Disciplinary Committee under Section 21D headed by the President, ICAI has also been constituted to look into any residual old cases that are/may be referred back by the Council,” ICAI reported.

The report elaborated on various salient initiatives/achievements during the current year.

Firstly, constitution of an additional bench of the Disciplinary Committee under Section 21B of the Chartered Accountants Act 1949 with a view to sustain the process of expeditious disposal of cases under enquiry and consideration of the Prima Facie Opinions formed by the Director (Discipline).

Secondly, Initiation of E-hearings; resulting in saving the time and energies of the members of the Board of Discipline/ Disciplinary Committee besides being economical. Out of the total 12 meetings of the Disciplinary Committee held till 30th June 2020 during the current council year i.e., 2020-21, 11 have been held through Video Conferencing. Now, members of the Committees will not have to travel to different places for hearing. Parties to the cases will also have an option to attend the Board of Discipline (BOD)/Disciplinary Committee (DC) hearing through Video Conferencing to be held at respective Regional Offices.

Thirdly, hosting of the details of disciplinary cases decided by the Board of Discipline/Disciplinary Committee as well as the cause list of cases on the website of the ICAI so as to create more awareness among various stakeholders.

Fourthly, a separate web portal for the Disciplinary Directorate has been developed and made live with all relevant information at one place.

Fifthly, Initiation of online training of the staff of the Disciplinary Directorate on technical and legal matters to keep them abreast with the latest development in the area.

Sixthly, the online mode of filing Complaints is now available on the official website of ICAI i.e. www.icai.org as well as on a separate portal of the Disciplinary Directorate for which the link is https://disc.icai.org/

Lastly, efforts are being made for automation of certain operations of the Disciplinary Directorate of the Institute.

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