NON-ACADEMIC ICAI UPDATE (NOT RELEVANT FOR EXAMS BUT FOR GENERAL AWARENESS)
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Please find the text of the ICAI Defers Certain Provisions of Revised Code of Ethics 2019 notification below –
ICAI Defers Certain Provisions of Revised Code of Ethics 2019
| Ethical Standards Board The Institute of Chartered Accountants of India 31st March 2022 |
| Deferment of certain provisions of Volume-I of Revised Code of Ethics, 2019 As the members are aware, the revised 12th edition of the Code of Ethics has come into effect From 1st July 2020. It is accessible on www.icai.org at the following links: – |
| Code of Ethics Volume – I https://resource.cdn.icai.org/55133CodeofEthics-2019.pdf Code of Ethics Volume – II https://resource.cdn.icai.org/60018code-of-ethics-2020vol2.pdf Code of Ethics Volume –III (Case Laws Reference) https://resource.cdn.icai.org/59111esb48239.pdf It may further be recalled that the following provisions of Volume-I of the Code of Ethics, 2019, deferred earlier, were to come into force w.e.f 1st April 2022 (Ref. Announcement dt. 26.7.2021 at https://www.icai.org/post/esb-applicable-date-of-certain-deferred-provisions ):- 1. Responding to Non-Compliance with Laws and Regulations (NOCLAR) [Sections 260 and 360] 2. Fees – Relative Size [Paragraphs 410.3 to R410.6] 3. Tax Services to Audit Clients [Subsection 604] The Council at its 410th Meeting held on 24th and 25th March 2022 decided that the applicability of the abovementioned provisions be further deferred for a period of six months (i.e. till 30th September 2022) to ensure effective adoption and implementation by the membership at large. A rollout plan for these provisions will be announced suitably. |
CA. (Dr.) Jai Kumar Batra
Secretary, ICAI
Official Link of ICAI Defers Certain Provisions of Revised Code of Ethics 2019 notification can be accessed from below –
https://www.icai.org/post/deferment-of-certain-provisions-of-volume-i-of-revised-code-of-ethics
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