Lok Sabha passes Chartered Accountants, the Cost and Works Accountants and the Company Secretaries Bill, 2021
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The Lok Sabha on Wednesday passed the Chartered Accountants, the Cost and Works Accountants and the Company Secretaries (Amendment) Bill, 2021. The Bill seeks to amend the existing Chartered Accountants Act (ICAI), 1949, the Cost and Works Accountants Act, 1959 and the Company Secretaries Act 1980.
Also, it intends to provide a mechanism for dealing with the cases of misconduct in the three professional institutes -- the ICAI, the Institute of Cost Accountants of India and the Institute of Company Secretaries of India -- with a view to strengthen the existing mechanism and ensure speedy disposal of the disciplinary cases.
The Bill was passed by a voice vote.
The Chartered Accountants, the Cost and Works Accountants and the Company Secretaries (Amendment) Bill, 2021, was introduced in Lok Sabha in December.
