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Fake Audio Clip in circulation under the name of President, ICAI

Fake Audio Clip in Circulation under the name of President, ICAI (09-12-2016) – ICAI Clarification on Fake Audio Clip being Circulated on Social Media in the name of CA M. Devraja Reddy, President, ICAI.

It has been clarified by the ICAI that a Fake Audio Clip in circulation under the name of President is in circulation, on Social media including Whatsapp, in the name of CA. M. Devaraja Reddy (President, ICAI), containing views on economic matters, inter alia, demonetisation, tax reforms etc.

It is clarified that the Fake Audio Clip in circulation under the name of President one and the voice there in is not of CA. M. Devaraja Reddy. It is emphatically stated that the audio clip is fake and is put in circulation to malign the image of the Institute. The views expressed in the said audio clip do not represent the views of CA. M. Devaraja Reddy or the Council of ICAI.

Demonetisation Policy announced by Government of India- An Advisory for Members

As you may be aware, the ICAI has always been supportive of the bold initiatives taken by the Government in strengthening the economic growth of our country and also in its efforts to weed out black money and corruption from our country. The recent move of Government of India to demonetize the high value denomination currency as announced by the Hon’ble Prime Minister Shri Narendra Modi is a welcome step which has given a definitive boost to the economic growth and dealt a lethal blow to the parallel economy that has cast its ugly shadow on the nation’s economy for long. This move, it is believed, will not only eliminate black money, but will also choke the activities of anti-nationals from across the border financed by fake currency, ensuring inclusive growth and national security in one go.

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The ICAI in its quick efforts to discourage and condemn such alleged misconduct by some of its members, is acting in the best proactive manner. So far 6 cases have come to the notice of ICAI. Under the provisions of its robust disciplinary mechanism, ICAI has issued notices to its 4 members calling upon them to submit their written statement under The Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007 framed there under. In 1 case the information has been sought from the Principle Commissioner Income Tax, Pune while in the other case information has been sought from Income Tax Department, Ahmadabad. In another case the information has been sought from the News Channel – News 18 India.

All members are, once again, advised to be more cautious and careful while advising their clients, sharing/writing of their views on any platform regarding demonetisation and work towards the best interest of the nation in keeping with true spirit of the principle of ICAI

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