94 CASES OF FAKE CHARTERED ACCOUNTANTS REGISTERED iIN 3 YRS

 The Government has said that it is aware that several unqualified persons are using false registration numbers and issuing fake certificates by pretending to be Chartered Accountants. Ninety four cases of fake certificates since April, 2006 have come to the notice of the Institute of Chartered Accountants of India. These include issue of false certificates with fake name, registration number (membership number) address etc.

Giving this information in the Lok Sabha in a written reply Shri Salman Khurshid, Minister for Corporate Affairs, said that ICAI is empowered under Chartered Accountants Act, 1949 to deal with such issues. Recognizing the fact that such instances are on the increase, section 26 of the said Act was amended in 2006, by the Chartered Accountants (Amendment) Act, 2006, whereby the offence has been made punishable on the first conviction with a fine of not less than Rs.5,000/- but which may extend to Rs.1 lakh and in the event of second or subsequent conviction, with imprisonment for a term, which may extend to one year or with fine not less than Rs.10,000/- but which may extend to Rs.2 lakhs or with both.

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