ICAI CODE OF CONDUCT FOR ELECTED REPRESENTATIVES TO BE MADE MANDATORY

ICAI CODE OF CONDUCT FOR ELECTED REPRESENTATIVES TO BE MADE MANDATORY

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Allama Prabhu started this petition to The President of the Institute of Chartered Accountants of India

Members of ICAI are always at the forefront when it comes to maintaining high professional standards, principled behavior and upholding ethical values.

The collective & condensed wisdom of ICAI has come out with a separate code of Conduct for all its elected representative viz.,

ICAI Code of Conduct for Elected, Nominated and Co-opted Representatives

The objective is obviously to make the elected representatives conduct themselves in an exemplary manner basically to ensure public confidence and Members Trust. The Code tries to eradicate even the remote possibility of misuse of power or position. This is a great initiative, hard to emulate by other professional bodies.

The scope paragraph says:

“ This Code of Conduct applies to Representatives in all aspects of their public life to maintain the culture of honesty, integrity, and accountability. Needless to say, this Code of Conduct is in addition to the Institute’s Code of Ethics applicable to the members of the Institute.”

It thereby proposes to place the onerous burden of values and responsibility and a stricter code of ethics for all of them.

It contains general guiding principles, and also mandates one's conduct in specific instances & acts like accepting/not accepting Gifts/Hospitalities and Monetary benefits, use of Institutes resources, etc. It also elucidates as to how an elected representative should conduct himself when he faces the issues like Conflict of Self Interest etc.

No doubt, this document is a masterpiece, carefully crafted by persons with the highest integrity, grace, and dignity.

Most of the elected representatives are following it, but NOT ALL.

Unfortunately, Clause 13 , states that the Code as Advisory in nature.

"Clause 13:- Administration

The Code shall come into effect from 1st January, 2017, and shall be ADVISORY in nature. The Code shall be administered by the Secretary, ICAI."

This being advisory in nature, the vigor and vitality of the Code are fully diluted and hence has become a toothless and clawless lion.

If such regulation for the ICAI representatives is not made mandatory the very purpose of having the Code gets defeated.

WE  SHOULD  HAVE  IT  AND  IT  SHOULD  BE  POWERFUL.

Unless this Code is made mandatory it will not achieve its intended purpose and may become a mockery.

Hence, it is prayed that the said Code be made MANDATORY, applicable to all representatives of ICAI(for elected, nominated and co-opted at Branches, Regional Councils or at Central Council).

By making this Code mandatory, the dignity, public confidence and the trust reposed by the stakeholders would exponentially magnify;

ICAI should again demonstrate its unstinted commitment to ethics and prove that it is an embodiment of Integrity.

 

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