Quality Review Board chief needs govt nod for overseas travel

The chairperson and government nominees on the Quality Review Board, which keeps a tab on the quality of services provided by chartered accountants, now need to get Centre's approval for overseas travel.
The Corporate Affairs Ministry has issued a notification to amend rules in this regard.
Besides the chairperson, QRB has five government nominees, five members nominated by chartered accountants' apex body ICAI and six special invitees, according to its website.
The board has the mandate to review the quality of services provided by the members of ICAI as well as suggest ways for further improvement. The Institute of Chartered Accountants of India (ICAI) has around 2,50,000 members.

According to a recent notification, the Quality Review Board's chairperson and members nominated by the government cannot go on any foreign tour without prior approval from the central government.
In this regard, amendments have been made to Chartered Accountants Procedures of Meetings of Quality Review Board, and Terms and Conditions of Service and Allowances of the Chairperson and Members of the Board Rules, 2006.

"The chairperson and members nominated by the central government to the board, shall not undertake any foreign tour without the prior approval of the central government.
"Whenever such a tour is proposed, the proposal should give full justification for the tour, including its purpose, necessity and the expected outcome of the tour for the consideration of the central government," the notification, dated February 8, said.

QRB, established under the Chartered Accountants Act, 1949, guides ICAI members on improving the quality of services as well as adherence to the various statutory and other regulatory requirements.