Auditaudit Staff asked 2 years ago

A chartered accountant in practice prepared project report for obtaining loan.  Decided to charge 10%fees on loan approved. Does this amounts to fund raising services or he is still guilty of misconduct?

2 Answers
Sau SSau S answered 2 years ago

He decided to raise the invoice of his service@ 10% of the loan to be sanctioned in future, which is basically contingent upon the future action of bank. Therefore CA will be guilty. (RTP – May 2015:)  
 
Had he charged it on the loan amount, he would have not.   

RaviRavi Staff answered 2 years ago

he is not guilty as loan is part of fund raising services is included after amendments given in May 17 RTP
jan 17 edition is not updated with this change

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