The Hindu Business Line : ICWAI replies to show-cause on travel row

THE Institute of Cost and Works Accountants of India (ICWAI) is learnt to have given a reply to the show-cause issued to it recently by the Government.

The show-cause, it is alleged, stemmed from certain travels lately undertaken by some members of the ICWAI council.

In a meeting held in the third week of May, the council decided to ``disown'' these travels.

An amount of around Rs 7 lakh is to be recovered from these council members.

When contacted, Mr V.V. Deodhar, President of the institute and one of these members, said he was not in a position to comment on the matter.

The show-cause, incidentally, asked the ICWAI to cite reasons why its council would not be dissolved. It was issued under Section 35 of the ICWAI Act.

A couple of other decisions were said to have been taken by the institute's office-bearers and recommended to the Government, claims an ICWAI e-group that has recently sought to speak out on the issue.

The first pertained to the appointment of the ICWAI secretary, a decision that has been left to the Government.

The second related to the nomination or otherwise to SAFA, an international body of accountants. The latter, it was decided, should be left to the Government. Incidentally, Mr Ashok Chandak of the Institute of Chartered Accountants of India, has now been designated to SAFA.

The show-cause from the Government followed an earlier directive to the institute, pointing out that no expenditure on account of the travels be booked to the council either directly or indirectly.

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