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ACCOUNTANCY

A case in example is that of an eminent past President of the Institute who was hauled up for severe disciplinary action, since the biographical notes of the author in the book he had written, mentioned that he was practising as a professional in his own name.

However, in a dramatic break from the prison of the past, the current young council of the Institute of Chartered Accountants (ICAI), in a landmark announcement this month, permitted Chartered Accountants to advertise and notified guidelines for this.

Prohibition of advertising was warranted in an age whenthe profession was small, the service offerings and capabilities were uniform throughout the profession and a CA was like a family general practitioner. With the profession's strength rapidly approaching the two lakh figure; portfolio of services and capabilities varying from firm to firm and clients seeking industry and subject matter specialism; not allowing advertising amounts to denial of the right to information to a consumer and curtails his freedom to make an informed choice. It also militates against the young professional who is unable to actively build his own brand as against already established brands.

However, all said and done accounting is a serious profession. Hence a permission to advertise cannot be a carte blanche for frivolity, flippancy, or misrepresentation. It should never ever raise false expectations