CA P. Suryakantam has conducted audit of accounts of an entity for a particularyear. ICAI has issued a letter to him relating to certain matters concerning audit. Hedidn’t even bother to reply to the letter despite reminders. Discuss whichfundamental principle governing professional ethics is disregarded by him
Question
CA P. Suryakantam has conducted audit of accounts of an entity for a particularyear. ICAI has issued a letter to him relating to certain matters concerning audit. Hedidn’t even bother to reply to the letter despite reminders. Discuss whichfundamental principle governing professional ethics is disregarded by him
Solution
The fundamental principle of professional ethics that CA P. Suryakantam has disregarded is "Professional Behavior". According to the Code of Ethics issued by the Institute of Chartered Accountants of India (ICAI), a Chartered Accountant is required to comply with the relevant laws and regulations and should avoid any action that discredits the profession.
By not responding to the letter issued by the ICAI, he has failed to act in accordance with the requirements of the ICAI, which is a regulatory body for the profession. This shows a lack of respect for the professional body and its regulations, which is not in line with the expected professional behavior.
In addition, ignoring reminders from the ICAI also shows a lack of cooperation, which is also a part of professional behavior. Therefore, it can be concluded that CA P. Suryakantam has disregarded the principle of "Professional Behavior".
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