94 CASES OF FAKE CHARTERED ACCOUNTANTS REGISTERED iIN 3 YRS

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N.Naveena Maheswara Rao

Assistant manager for accounts

1096 Points Joined February 2009

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.

The details are given below :

Descripttion	01.04.2006 to 31.03.2007	01.04.2007 to 31.03.2008	01.04.2008 to 31.03.2009	01.04.2009 to 22.07.2009	Total
Cases under investigation with the Police	6	8	4	1	19
Cases under examination with the ICAI to enable to be referred to the Police	15	19	31	10	75
Total	21	27	35	11	94

Replies (4)

CA Mohit Agarwal

Chartered Accountant

1025 Points Joined January 2009

Hi Naveena,

Thanx for sharing...

John jeba

Finance executive

44 Points Joined February 2009

Hi, I curr ntly working in prepress company, in that my company finance manager said that he finished CA with gold medal. But when we look in HR document he put as MBA from icfai.

Please help me , how to verify his certification. in our institutions do we have any records which can be verify easily.

Sathish M

Management Accountant

40581 Points Joined June 2010

If he has taken up membership of ICAI, it is possible to easily check his credentials on trace the members from Institute's website. But the larger question is on what basis the company had recruited him. You need to check his offer letter and other documents that he has submitted to the HR internally, later you can proceed for external sources. Generally, many companies conduct Back Ground Verification of the employees on or after hiring them.

Sathish M

Management Accountant

40581 Points Joined June 2010

If he has taken up membership of ICAI, it is possible to easily check his credentials on "trace the members" heading from Institute's website. But the larger question is on what basis the company had recruited him. You need to check his offer letter and other documents that he has submitted to the HR internally, later you can proceed for external sources. Generally, many companies conduct Back Ground Verification of the employees on or after/ before hiring them.