K.R. Srivats

New Delhi, May 24 For the first time in the country, practising chartered accountants have been permitted to advertise their services in a restricted manner; they are barred from making tall claims about their professional competence and capabilities.

At the recent Central Council meeting of the Institute of Chartered Accountants of India (ICAI), the members in practice have been allowed to issue, circulate or publish “write-up” through print or “electronic mode” (e-mail or other digital mode), sources said.

However, chartered accountants cannot use the electronic media for advertising their services, they added.

Moreover, the information given in the write-up should not be misleading or false.

The latest move of the ICAI council essentially lifts the existing ban on chartered accountants advertising their services.

The ICAI is expected to soon come up with a recommended format for such “write-up”.

Although the ICAI decision may not help chartered accountants attract large clients, sources in the fraternity saidit would definitely help them attract more middle-income households, which are on the rise in a fast-growing economy like India.

“This would help improve tax compliance as many more would get to know about the services offered by CAs,” sources added.

(This article was published in the Business Line print edition dated May 25, 2008)
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