INSUBCONTINENT EXCLUSIVE:
The government has introduced a bill in the parliament to strengthen the disciplinary mechanisms for chartered accountants, cost and work
accountants and company secretaries
The Chartered Accountants, The Cost And Works Accountants And The Company Secretaries (Amendment) Bill, 2021 is aimed to reform and speed up
the disciplinary mechanism of the institutes.Three bills dealing with these professions, The Chartered Accountants Act , The Cost And Work
Accountants Act And The Company Secretaries Act will be amended and time bound disposal of cases with time limits for speedy disposal of
matters will be ensured by the members of the institute.The bills aim to deal with the conflict of interest between the administrative and
disciplinary arms of the institute
Firms will now have to be registered separately with the respective institutes and will come under purview of disciplinary mechanism.The
councils will have the autonomy to fix various fees and their accounts will be audited and approved by the Comptroller and Auditor General
