Implementation of NFRA “An Encroachment In Independence of ICAI”

Dear Members of CA Profession. Today i am Going to discuss about the Reason why NFRA was formed and how it is going to take away our Independence.

Our Institute was Set up in 1949 by and Act of Parliament and our Institute and our Profession got independent identity. In Last 69 Years we achieved many Milestones and we are one of the Largest accounting bodies worldwide.

Our Function were quite satisfactory for at least till 1980, but since then  Functioning of ICAI started deteriorating  due to following Reasons:-

Entry of Dynasts in Councils .

Entry of Entry Operators in Councils

Lobby Cultures in Election where Guanine Candidates do not succeed.

Use of Money and muscles power in Elections

Greed of Members in Council for getting posted in different Govt. Bodies as Directors etc.

Caste based/ Region Based Voting in Elections.

Couple of Days ago the Government Superseded the Medical Council of India and appointed a Set of people to Govern the Medical council of India. Now after Formation of NFRA the Government may Supersede the Council of ICAI . Even if Government do not supersede the Council, it has been virtually superseded once the NFRA Formed.

Now after Implementation of NFRA we will be dictated by the beaurocrats about our Rights, Responsibilities,  and duty and will be Like a “ Parrot in a Cage”.

Now the time has come to decide as its like “Do or Die” situation for our fraternity.

Now Coming to the point how to overcome from this situation, I have certain opinion which I wish to share with all learned members;-

Donot support any Dynasts in coming Elections

Donot Support any candidate who is actively engaged in activities of Political Partites.

Never support any Candidate having Past track record of having been involved in Entry Operation activities

Donot Attend or avoid attending parties hosted by any candidate or supporters of any candidate

Your Vote is Yours, Donot vote for a particular candidate under influence of any other person/ members

Vote on the basis of Integrity of Candidate not on the Basis of Caste/creed/ Region/ Religion/ Language

Last but not least keep a close watch on Acts and deed of your elected representatives.

Have Unity amongst all members like other professionals.

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