ICAI Proposes Major Reforms to CA Ethics Code

The Institute of Chartered Accountants of India (ICAI) has proposed significant reforms to the Chartered Accountants (CA) Ethics Code, aligning it with global standards. The revised Code, in line with the 2024 framework of the International Ethics Standards Board for Accountants (IESBA), introduces globally converged norms on independence, objectivity, and professional conduct.

The proposed reforms aim to enhance the ethical standards and practices followed by CAs, ensuring that they maintain independence and objectivity in their economic analysis and auditing activities. One of the key changes includes higher audit limits, providing CAs with more flexibility in conducting audits.

By aligning with international standards, ICAI aims to strengthen the credibility and trust in the accounting profession, both domestically and globally. The proposed reforms are expected to bring India’s ethical standards in line with best practices followed around the world.