ICAI directed to address govt units' complaints quickly

Chartered accountants' apex body ICAI has been directed to resolve complaints from government organisations in a "time-bound manner", union minister Arjun Ram Meghwal said today.
The minister of state for corporate affairs informed the Lok Sabha that in the last five years, the Institute of Chartered Accountants of India (ICAI) dealt with 1,125 cases out of the 2,550 cases registered during the period.
"The Ministry has issued directions to the ICAI that where complaints have been received from government organisations, they should be dealt within a strictly time- bound manner as public interest is involved in such cases," the minister told the Lok Sabha.

The institute should also ensure that disposal is done within the limit laid down for each step, he added.
Last month, Prime Minister Narendra Modi had wondered why the institute took action only against 25 members for irregularities while more than 1,400 cases have been pending for many years.
Citing information available with the ICAI, Meghwal today said, "In respect of 25 cases punishment of removal of names from the register of members for one year or more, including permanent removal was awarded".
The minister was responding to a query on whether the ICAI has poor track record on disciplinary front and has prosecuted only 25 chartered accountants in the last 11 years.