TMI BlogDisciplinary proceedingsX X X X Extracts X X X X X X X X Extracts X X X X ..... the Authority believes that sufficient cause exists to take actions permissible under sub-section (4) of section 132 , it shall refer the matter to the concerned division, which shall cause a show-cause notice to be issued to the auditor. (2) The show-cause notice shall be in writing, and shall, inter alia, state- (a) the provisions of the Act or rules under which it has been issued; ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m the report of investigation or other records. (4) The show-cause notice shall be served on the auditor in the following manner, namely - (a) by sending it to the auditor at the address provided by him or provided by the Institute of Chartered Accountants of India (if required by the Authority) by registered post with acknowledgement due; or (b) by an appropriate electronic means to t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for answering the allegations, and all the partners and employees of that firm as on the date of occurrence of alleged misconduct, shall be responsible for answering the allegations. (5) The Division shall dispose of the show-cause notice within a period of ninety days of the assignment through a summary procedure as may be specified by the Authority, by a reasoned order in adherence to the p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cause notice may provide for (a) no action; (b) caution; (c) action for imposing penalty against auditor under sub-clause (A) of clause (c) of sub-section (4) of section 132 or for debarring the auditor from engaging as such under sub-clause (B) of clause (c) of sub-section (4) of section 132 or both. (7) The order passed under sub-rule (6) shall not become effective until thi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lopment Authority of India; (vi) in case the auditor is resident outside India to concerned regulator of such country; and the same shall be published on the website of the Authority. ******* Notes 1. Inserted vide NOTIFICATION No. [F. No. 1/4/2016 CL-I] dated 05-09-2019 - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulati ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
