Functions of the Council

Section 15 of the Chartered Accountants Act, 1949 deals with functions of the Council. The Institute shall function under the overall control, guidance and supervision of the Council and the duty of carrying out the provisions of this Act shall be vested in the Council. The Act came into force on 01 Jul 1949.

¹[15. Functions of Council.--(1) The Institute shall function under the overall control, guidance and supervision of the Council and the duty of carrying out the provisions of this Act shall be vested in the Council.

(2) In particular, and without prejudice to the generality of the foregoing powers, the duties of the Council shall include--

(a) to approve academic courses and their contents;

²[(b) the prescribing of fees for the examination of candidates for enrolment;

(c) the granting or refusal, of registration of a firm];

(d) the prescribing of qualifications for entry in the ³[Register of members];

(e) the recognition of foreign qualifications and training for the purposes of enrolment;

⁴[(f) the prescribing of guidelines for grant or refusal of certificates of practice under this Act;

(fa) to issue guidelines for the purpose of carrying out the objects of this Act;]

⁵****;

(h) the levy ⁶*** of fees from members, examinees and other persons;

⁷****;

(j) the regulation and maintenance of the status and standard of professional qualifications of members of the Institute;

(k) the carrying out, by granting financial assistance to persons other than members of the Council or in any other manner, of research in accountancy;

⁸[(l) to conduct investor education and awareness programmes;

(la) to enter into any memorandum or arrangement with the prior approval of the Central Government, with any agency of a foreign country, for the purpose of performing its functions under this Act];

(m) to enable functioning of the Director (Discipline), the Board of Discipline, the Disciplinary Committee and the Appellate Authority constituted under the provisions of this Act;

(n) to enable functioning of the Quality Review Board;

(o) consideration of the recommendations of the Quality Review Board made under clause (a) of section 28B and the details of action taken thereon in its annual report; and

(p) to ensure the functioning of the Institute in accordance with the provisions of this Act and in performance of other statutory duties as may be entrusted to the Institute from time to time.]

Section 15, The Chartered Accountants Act, 1949 (Act 38 of 1949).