(a) whether irregularities in the functioning of the Institute of Chartered Accountants
of India and the alleged manipulation in the declaration of the results of the examination
conducted by the Institute have come to the notice of the Government;
(b) if so, the details thereof; and
(c) the steps taken to bring transparency in the functioning of Institute?
MINISTER OF CORPORATE AFFAIRS (SHRI PREM CHAND GUPTA)
(a) & (b) As a general practice, issues, if any, raised in respect of the functioning of the
Institute from any quarter are looked into by the Government and the Institute to ascertain
facts and to take action as warranted under the Chartered Accountants Act, 1949. There is no
finding of manipulation in declaration of the results of the examinations conducted by the
Institute. Recently on receipt of information pertaining to leakage of the question paper for
the Common Proficiency Test (CPT) examination scheduled for 05th August, 2007, the
examination in its entirety was cancelled by the Institute and in its place a fresh examination
is scheduled to be held on 26th August, 2007.
(c) The ICAI is a statutory body required to function, in terms of the provisions of the
Chartered Accountants Act, 1949 as amended from time to time and the rules and regulations
framed thereunder. The Chartered Accountants Act, 1949 has been amended in 2006 with a view
to, inter-alia, further improve the functioning of the Institute. ICAI is also a public
authority in terms of the provisions of the Right To Information Act, 2005.