The Institute of Chartered Accountants of India (ICAI) has issued a clarification in response to certain social media posts containing statements and allegations concerning the functioning and governance of the Institute.
ICAI stated that some of the posts circulating online contain information that is “incorrect and misleading” and may create misunderstanding among members and other stakeholders. The Institute has therefore placed the factual position on record on several issues, including Council decision-making, dissent, Matters of General Interest (MOGIs), committee meetings, the World Forum of Accountants (WOFA) and foreign travel by Council members.
Official Declaration made by ICAI is as follows
ICAI's Response to Some Social Media Posts
It has been observed that some posts have been circulated on social media platforms containing statements and allegations regarding the functioning and governance of the Institute which are incorrect and misleading. In order to place the correct facts on record and avoid any misunderstanding, the factual position with regard to the points raised is set out below:
1. Majority Rule for taking decisions in the Council
Regulation 166 provides that a resolution at a meeting shall be passed by a majority of the members present and that the Chairman has a casting vote if the votes are equal. This is a statutory requirement. Therefore the Council cannot accept any member’s own view merely because he believes that his view alone is correct.
2. Process of recording dissent in the Council
When a member of the Council expresses a dissenting view on a resolution or decision, that dissent is recorded in the official Minutes of the meeting by name. It may be noted that the Minutes of all Central Council meetings have been approved unanimously.
3. Opportunity of being heard in the Council
Every member of the Council gets an equal opportunity to speak on the Council agenda items and no time limit is fixed as such. Even if a member wishes to speak more than once or twice on the same item, he is allowed to do so. A decision whether unanimous or by majority is arrived at only after hearing the views of all the members. There is not a single instance where any member of the Council has been stopped from expressing his view, whether in favour of or against any agenda item.
4. Matters of General Interest (MOGI’s)
All the pending MOGI’s were disposed of in the Council meeting held on 8th October 2025. Every MOGI received so far has been placed before the Council in the Agenda. The Council considered each MOGI so placed and disposed it of after taking the necessary decision where ever required. There is only one MOGI which is deferred for last two meetings as the member who raised it was not present when it was taken up.
5. Outstation Meeting of Committees
Any one meeting of a Committee in a Council year may be held outside Delhi with the permission of the President. Holding the meeting at places other than Delhi does not make any significant difference in cost because the members would have travelled and incurred the same boarding and lodging expenses if the meeting was held in Delhi. It is reiterated that all personal expenses of members, are borne by the members and not charged to ICAI.
6. World Forum of Accountants (WOFA)
The WOFA is an Annual International Conference organised by ICAI. It serves as a premier global platform for professional networking opportunities across the world, knowledge sharing and thought leadership offering immense value to its members and contributing significantly to the advancement of the accountancy profession. WOFA is a brand building exercise to showcase ICAI Internationally.
The expenditure incurred on WOFA has been approved by Council and duly accounted in Financial Statements. The Financial statements for both financial years 2024-25 and 2025-26 have been audited and clean opinion was reported.
It may be noted that there has not been any deficit in WOFA conducted in 2025 and 2026.
7. Foreign Travel by Council Members
ICAI is a member of International Federation of Accountants (IFAC), Confederation of Asian and Pacific Accountants (CAPA), South Asian Federation of Accountants (SAFA), ASEAN Federation of Accountants (AFA), Pan African Federation of Accountants (PAFA) etc. ICAI presence is critical to voice India’s position on evolving global Standards and Policies.
Nominations for these Bodies are made based on the relevant experience of the Council members. Further, Council members are nominated to participate in various Committee meetings, Group meetings, Conferences, etc. again based on the Positions held by the Central Council member or the subject matter expertise only. These travel expenses are strictly as per the norms approved by the Government of India as per Section 16(2)(d) of the Chartered Accountants Act 1949.
This communication is issued for the information of Members and other Stakeholders and to reaffirm that ICAI follows best practices of Governance within the Regulatory framework.
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