The Institute of Cost Accountants of India (ICMAI), a statutory body under the Cost Accountants Act, 1959, has issued a strict advisory warning its members against engaging in unauthorized activities that could damage the Institute’s reputation, governance, and statutory framework.
Key Directives from ICMAI’s Advisory
ICMAI has identified and prohibited specific actions that could harm the Institute’s credibility. These include:
Formation of Unauthorized Associations
Members are strictly forbidden from forming or operating cost and management accounting-related associations, bodies, or forums using the Institute’s name, logo, influence, or implied recognition without prior approval. Such associations mislead stakeholders and may attract disciplinary actions.
Unauthorized Communication with Government Authorities
Members are prohibited from approaching central ministers, government officials, or regulatory authorities to present personal views in the name of the profession or the Institute. Unauthorized interactions may lead to misinformation and misrepresentation of ICMAI’s official stance, affecting transparency and accuracy.
Unapproved Petitions to Parliamentary Bodies
Submitting petitions, memorandums, or representations to parliamentary committees or government bodies without ICMAI’s authorization is strictly prohibited. All such communications must go through official channels.
Undemocratic and Illegal Activities for Personal Branding
Any attempts to gain personal visibility, branding, or influence through unauthorized associations or undemocratic means will be considered misconduct. These activities not only violate ethical codes but also damage ICMAI’s credibility.
Notification Details
Date: February 27, 2025
