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ICAI defends action against EY affiliates, cites statutory power. Delhi HC stays order. ICAI directs firms to end tie-ups violating norms. Accusations of bias. Supreme Court involvement.
The disciplinary committee of ICAI has directed the firms and the individual partner concerned to immediately stop existing arrangements with the multinational entities, as it is circumventing the provisions of the Chartered Accountants Act, 1949.
Declines to comment on recent orders but says body has a very robust disciplinary mechanism
The SBC Summit Barcelona will feature the 'Affiliate, Marketing & Media Zone', discussing affiliate strategies, trends and regulatory challenges.