It was ruled by the High Court that the profession of Chartered Accountancy forms an important part of the economy of a country. Chartered Accountant stops the issues that come around accounting by doing effective audits and continuous supervision of their clients. CAs properly instruct both proper maintenance of accounts as well as management and planning. If there is any omission in the release of duties can lead to large-scale losses and financial fraud. There has been a responsibility of a CA for their clients and also to ensure in…