The Institute of Cost Accountants of India (ICMAI) has issued a stern advisory warning its members against engaging in unauthorized activities that could harm the Institute's reputation, governance, and statutory framework. The advisory, signed by CMA (Dr.) D.P. Nandy, Secretary (Officiating), outlines specific actions that are deemed unethical and subject to disciplinary action.
Key Directives of the Advisory
ICMAI has identified four major categories of violations that its members must avoid:
- Formation of Unauthorized Associations - Members are strictly prohibited from forming or operating any cost and management accounting-related associations, bodies, or forums using ICMAI's name, logo, or influence without prior approval. The Institute warns that such unauthorized associations mislead stakeholders and may attract disciplinary proceedings.
- Unauthorized Communication with Government Authorities - The advisory states that members must refrain from directly approaching central ministers, government officials, regulatory bodies, or policymakers to present their personal views in the name of ICMAI or the profession. Members are also prohibited from engaging in discussions with government committee members on matters related to the profession without prior approval. The Institute stressed that unverified communication could lead to misinformation and misrepresentation of ICMAI's official stance.
- Unapproved Petitions to Parliamentary Bodies - ICMAI has prohibited members from submitting petitions, memorandums, or representations to parliamentary committees or government bodies without obtaining prior authorization. Any such submissions must go through the Institute's official channels.
- Undemocratic and Illegal Activities for Personal Branding - The Institute has also cautioned against using unauthorized associations for personal visibility, branding, or influence, categorizing such acts as misconduct. These activities not only violate ethical codes but also harm ICMAI's credibility and reputation.
Official copy of the advisory released by the ICMAI Institute is as follows
Consequences of Violation
ICMAI has made it clear that members found engaging in these prohibited activities will face strict disciplinary action under the Cost Accountants Act, 1959, and other applicable regulations. The Institute has urged all members to adhere to the advisory, upholding the dignity, discipline, and professional integrity of ICMAI.
Call for Compliance
The advisory serves as a reminder for ICMAI members to ensure that all professional concerns or representations are submitted only through official channels. By doing so, the Institute aims to maintain transparency, accuracy, and professional ethics within the cost and management accounting community.
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