THE Institute of Chartered Accounts of Guyana (ICAG), in advertisements in all the local dailies yesterday, has bemoaned the disinformation peddled by the Kaieteur News.

“A number of inaccurate assertions are made in the release with reference to the Institute, and the Institute has determined for the sake of public education and confidence to inform the public concerning the role of the Institute and the basis of its authority,” the body said.

The embattled daily is the only news outlet to have repeatedly published statements that suggested that the Commissioner-General of the Guyana Revenue Authority (GRA), Mr. Khurshid Sattaur, has committed gross professional misconduct and can be sanctioned by the ICAG. The newspaper suggested too that ICAG has commenced investigations against Mr. Sattaur.

CALL FOR CONFIRMATION
Sattaur’s lawyer, Mr. Mahendra Satram, subsequently called on the ICAG to confirm that it has launched an investigation into the GRA Head’s conduct, via a letter to the Institute.

“It is highly irregular for the Association to commence or conduct an investigation or inquiry without notifying the affected member. For this reason it is suspected that these publications may be fabrications on the part of the aforementioned persons, however, the silence of the Association and its executives leaves room for speculation,” Satram had said.

According to the letter, the Institute is also being called on to:
* Confirm what is the nature of the purported investigation, if any;
* Advise whether the Institute has communicated with the embattled Kaieteur News, as indicated in an article published on Wednesday, under the headline ‘Accounting body launches probe against GRA’s Chief over tax info leaks’;
* Issue a clear and unequivocal statement denouncing the “unsubstantiated and malicious attacks designed to malign the character” of the GRA Head, as well as to forestall the execution by the Authority of its statutory duty and mandate; and
* Publicly articulate their position on the illegally obtained taxpayer information.

“My clients will pursue their statutory duties and obligations with professionalism and rectitude… my clients view these developments as alarming and distressing and expect the Institute to disassociate itself from such reprehensible conduct. I anticipate your expeditious response and action,” Satram said.

The ICAG’s advertisement follows Satram’s call.

In it, the body noted that the process for such an investigation is clearly outlined in its bylaws and not as nearly as simplistic as inferred by the Kaieteur News.

“The Institute’s rules of professional conduct which are applicable to members are those set out in the code of ethics for professional accountants issued by the international federation of accountants (IFAC), through the international ethics standard board for accountants. The code of ethics defines a professional accountant as “an individual who is a member of an IFAC member body. The Institute is a member body of IFAC,” the body said.

ICAG’S MANDATE
According to ICAG, its mandate is made clear in its bylaws. It said, “The functions of those separate committees are stated in the bylaws as follows:
“10.11 The investigations committee shall, when necessary or desirable, investigate the conduct and good standing of members and students and any matter referred to it by the council. This committee shall have the power to make enquiries from members and students about professional matters, and to require the production of books, documents and working or other papers.
“10.12 The disciplinary committee will conduct hearings of charges preferred against members and students by the investigations committee.”
Additionally, Section 10.8 of the bylaws also provides for an appeal committee.
The stipulations, in the Institute’s bylaws, are that:
“10.8 There shall be constituted an appeal which shall consist of all members of the council not on the investigations committee of the disciplinary committee.
“Section 21 of the bylaws goes on to describe the process that should be followed with respect to charges laid against any member: it is reproduced for reference.
“21.1 Any person may address to the council in writing a charge or charges of professional misconduct on the part of any member.
“21.2 Any person may address to the council in writing a charge or charges of unfitness, lack of moral character or professional or other misconduct on the part of any member or of any registered student.
“21.3 If without any such charge, any seeming unfitness, lack of moral character or professional or other misconduct on the part of a member or of a registered student shall come to the notice of the secretary, he may make inquiries with regard thereto and thereafter may report in writing to the council the facts ascertained by him. The Council may in its discretion deal with the report as if it constituted a charge or charges under the bylaws and thereupon such report shall be deemed to be a charge or charges under the bylaws for all purposes.
“21.4 Any charge or charges under the preceding bylaws shall be laid before the Council.
“21.5 The council may in its discretion take whatever action it deems proper in connection with any such charge or charges, and without limiting the generality of its power may, among other things, refer the charge or charges to the investigations committee.”

“The Institute trusts that this information clears up some of the misconceptions which may have been created by the inaccurate assertions contained in the press release, and lends to a better appreciation of the role and importance of the Institute in regulating the profession of accountancy in Guyana and ensuring the ethical conduct of its members,” ICAG concluded.

The Institute is a statutory body established under the Instituted of Chartered Accounts of Guyana Act 1991. The objects of the Institute are clearly defined in that Act and include, inter alia: “To regulate the discipline and professional conducts of its members and its registered students by maintaining a strict standard of professional ethics.”

In line with Section Six of the Act, the direction, control and management of the affairs of the Institute are vested with a council which comprises eight members of the Institute. The council is empowered under the Act to appoint various sub-committees including an Investigation Committee and a Disciplinary Committee.

Also, the Institute is not a subsidiary of any professional body resident in the United Kingdom, but as a regulatory and disciplinary body has an independent statutory mandate in Guyana.

The statements by Kaieteur News follow a move by the GRA to institute charges against its publisher, Mr. Glenn Lall and other associated parties relative to tax evasion.