Centre forms body to review disciplinary rules for errant CAs, CSs

The committee recommends a massive overhaul of disciplinary actions taken by three institutes, ICAI, Institute of Company Secretaries of India, and Institute of Costs and Works Accountants of India

The government is looking to boost its oversight over three professional institutes including Institute of Chartered Accountants of India (ICAI) for its failure to discipline errant auditors according to a report by The Times of India. 

The Ministry of Corporate Affairs (MCA) has formed a high-level committee to review rules and regulations governing CAs, company secretaries and cost accountants. The committee chaired by retired IAS Meenakshi Datta Ghosh has been tasked with recommending changes to "ensure speedy disposal of disciplinary cases" and "strengthen existing mechanisms". This committee also includes retired IRS and IDAS officers, an advocate of the apex court