Finance Professionals (CA,CS) to get freedom to advertise

SUSHAMA (TAX CONSULTANT) (162 Points)

01 January 2008

The new year brings in good news for independent finance professionals like compay secretaries, chartered accountants, and cost and work accountants,

who will be allowed to advertise their services and area of proficienty, a move that would enable them offer services globally and effectively highlight their

areas of competence.

While practicing company secretaries would be allowed to advertise their services from January 1 itself, for the Chartered Accountants and cost and works

accountants it is not likely before April as the matter has to get approval by their respective governing bodies.

Sunil Talati, president of ICAI, said CAs could be given similar freedom by April this year." We are working on it. The main issues we are studying

is to see to what extent we should allow the professionals to advertise and also what can be allowed in the content," he said.

Chander Wadhwa, president of the ICWAI,also said the profession's governing body was working on the matter and it was likely to be cleared by April.

Preeti Malhotra,president of ICSI said so far the finance professionals were not allowed to "solicit" clients but amendments made in their respective

statutes paved the way for the liberalisation that would see them advertise in newspapers,television,journals, or on the internet through a website.

Elaborating on the benefits , she said," For example, company secretaries today have proficiency in areas like joint ventures, solvency issues, capital

markets etc. But they cannot inform their potential clients, including those based overseas, about this.This move will gave them freedom to do so and will

in fact help fresh professionals who would use it as an opportunity to get business."