The Disciplinary Directorate, the Board of Discipline, and the Disciplinary Committee form the foundation of the disciplinary process of the Institute. These entities are quasi-judicial and have substantial powers like that of a Civil Court to summon and enforce attendance or require discovery and production of documents on affidavit or otherwise. If the Director (Discipline) on receipt of any information of misconduct is of the opinion that the misconduct is being done and such misconduct is covered in the Ist schedule of the Chartered Accountants Act, 1949, he shall refer the case to the Board of Discipline. If he is of the Opinion that the misconduct is covered by the IInd Schedule or both schedules of the CA Act, he will refer the case to the Disciplinary Committee.
If the Board of Discipline finds a member guilty of professional or other misconduct, it may at its discretion reprimand the member, remove the name of the member from the register of members for up to three months or impose a fine up to ₹1,00,000/-. If the Disciplinary Committee finds a member guilty of professional or other misconduct, it may at its discretion reprimand the member, remove the name of the member from the register of members permanently or impose a fine up to ₹5,000/-. Any member aggrieved by any order may approach the Appellate Authority.
It should be born in mind that this disciplinary proceeding is not in lieu of or alternative for criminal proceedings in a court. Criminal proceedings against a Chartered Accountant and disciplinary action by ICAI are two separate issues and one need not wait for another to be completed first.