Quick Summary
Since it is the beginning of the month of December and ICAI elections 2021 are going to be held in a couple of days, to be more specific, December 3 and 4, 2021, what better time to know more about it. Through this article, let me tell you, who can contest the elections and what are the eligibili
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FAQ :
The ICAI Elections 2021 are scheduled to be held on December 3 and 4, 2021.
A member who is a fellow on April 1st of the financial year and whose name is on the Register on the last date of scrutiny of nominations can stand for election.
Besides being a fellow and remaining on the Register, candidates must not have been found guilty of misconduct, not hold a Central or State Government post, not have been the Institute's auditor in the last three years, and not have held office for more than three consecutive terms.
Yes, penalties awarded before or after the Chartered Accountants (Amendment) Act, 2006, for offences committed before its commencement, are taken into account for disqualification.
Yes, the three-year limitation for not being the Institute's auditor includes periods before the Chartered Accountants (Amendment) Act, 2006, if the person served as auditor then.
Terms held before the Chartered Accountants (Amendment) Act, 2006, are not counted towards the three consecutive terms limit for disqualification.