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The CA institute's disciplinary committee will continue with its hearing on the charges of professional misconduct against certain chartered accountants involved in the Satyam Computers' case, Mr G Ramaswamy, ICAI President, has said.
“A stay was granted by the Delhi High Court and so we were unable to move. Now the stay has been vacated and the Court has given an order they (concerned chartered accountants) have to appear before us. In the third week of February, there will be a hearing and once the hearing is over the proceeding will be completed,” said Mr Ramaswamy, who assumed charge as CA Institute President here on Saturday.
Mr Ramaswamy also said that all future hearings on the Satyam case with regard to professional misconduct will now happen in Hyderabad. Proceedings of professional misconduct have been initiated on six chartered accountants — two statutory auditors, three employees of the company and one internal auditor.
The ICAI President also said that the CA institute had already proposed changes in the chartered accountants Act so as to allow the institute as regulator of the CA profession to take action against any errant partnership firms rather than the partners alone.
“The proposal is already with the Government,” he said even while admitting that the process of amending the law may take some time.
krsrivats@thehindu.co.in
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