Law:

Section:

Chartered Accountants Ordinance (X of 1961)--- ----Ss. 20A, 20B, 20C, 9 & Sched. I, Part 4, Cl.(5)---Constitution of Pakistan (1973), Art.199---Constitutional petition---Allegation of professional misconduct against a Chartered Accountant on account of getting an advertisement published in the daily newspaper---Initiation of proceedings by the Institute of Chartered Accountants of Pakistan---Procedure---Institute in initiating the disciplinary proceedings against the petitioner committed a grave and serious illegality in overlooking the provisions of Ss.20A & 20B of the Chartered Accountants Ordinance, 1961 and in violation thereof, issued show-cause notice and the Investigation Committee proceeded to investigate/inquire into the guilt of the petitioner---Such conduct/procedure was not proper irrespective of the fact that the material on record might have made out a prima facie case against the petitioner of being guilty of professional misconduct---Institute, in circumstances, had failed to proceed in accordance with law against the petitioner and the proceedings for professional misconduct initiated against him were defective being in contravention and violation of statutory provisions---Principles---High Court accepted the Constitutional petition and set aside the inquiry proceedings pending against the petitioner being contrary to law and illegal---High Court, however, observed that the Institute would be at liberty to initiate fresh proceedings against the petitioner for professional misconduct in accordance with the relevant provisions of the Ordinance. In the present case the petitioner, who is a Chartered Accountant, got published an advertisement in the daily newspaper for expressing thanks and gratitude to the Chairman, Securities and Exchange Commission of Pakistan for implementing the decision of introducing the rotation of auditors and putting bar on the award of consultancy assignment to the auditors of listed companies. The advertisement further contained that the above decision provided an even playing field to the smaller firms of Chartered Accountants who will get rid of the so-called big five Accounting Firms from their monopoly/…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492