Auditguru Auditguru Frequently Asked Questions(FAQ) Auditguru Auditguru
 Meet Us Here
Lalit Solanki asked 1 year ago

Dear sir, as you clarified earlier that since icai doesn’t specified any fund raising service under regulation 192 so practically it’s not allowed for CA to accept fees on percentage basis for fund raising service and even I’ve confirmed the same with ICAI BOS Faculty and maam also replied the same , but again contradiction arises when icai gave different answer via MCQ Booklet , case study 27 , 27.1 , which is as under..
27.1. Is the act of CA Dev of charging 2% consultancy fees for amount
raised by startups a professional misconduct? Please answer
specifying the relevant clause.
(a) No, it is not a misconduct if a specific permission is granted by the ICAI in this regard under regulation 190A.
(b) No, it is not a misconduct. Regulation 192 allows CA to charge
percentage based fees in case of fund raising services.
(c) Yes, it is a misconduct under clause 10 Part (1) of First Schedule.
(d) Yes, it is a misconduct under clause 3 Part (1) of First Schedule.
Here ICAI gave answer – Option B – No misconduct, Regulation 192 allows this, but as of now nothing is mentioned via regulation 192..
Why this contradiction ?
And what to follow in exam , since ICAI itself following 2 different different view on a single matter.
Please guide.

1 Answers
RaviRavi Staff answered 1 year ago

ICAI is soon going to issue corrigendum, rectifying the point that % basis not allowed on fund raising 
it can be issued on Monday 

Call Back Request