How do Chartered Accountants Earn by Cheating

This article is not to promote the way to earn unethical. But aim of this article is to tell, there are lots of way of cheating, with this, chartered accountants can earn millions of dollar but in the end, they have to go to jail and they have to work of grinding the wheat through hand chakki for 10 to 20 years. Will it be their real value?

Article is based on the true story of our city.

Mr. A, B and C are chartered accountants of India. All have done the hard work which is more than for becoming IAS officer. So, we all Indians were proud on them that they became chartered accountants. Through their intelligence and dedication, they will remove the poverty of India and will make India as world power (which is also dream of our past great president A.P.J Abdul Kalam). But we are very sad because after becoming chartered accountants of India, they forgot their duties for their motherland India. They became greedy because they started to love green Indian Notes.

Now,  they started to work together. We know, power in unity. Same thing apply on intelligence. More intelligence is also in unity. But, they have follow a wrong way. Their aim was to earn big money through cheating. They often go to bank for formal auditing work. One day, one of them, told his desire to earn money through cheating to bank manager. Bank manager is also happy because, he also wanted to get big share in this cheating. Through his database, he found that Mr. Z is honest and dedicated client of bank. He worked in foreign country. For saving his money, he opened the fixed deposit of $ 50 Lakh  ( just for example) in Indian Bank.

When manager told this confidential information to these chartered accountants. These chartered accountant started to make plan. They have opened the rules and regulations. As per the rules and regulations, same person Mr, Z or his authorized person can take the loan on this FDR. Because these chartered accountants were expert to make false balance sheet daily basis for their clients. To make false authorization letter was not big deal for them.  But, now, they have to do the bogus signature of Mr. Z. For this, they called their friend Mr. 420 who is big cheater and is also expert in forgery. Mr. 420 had signed like the signature of Mr. Z on authority letter. On this basis, they collected Rs. 5 Crores as loan on of  50 Lakh US Dollars.

Now, all the chartered accountants and other cheaters are happy that no one can find this. They have earned big money through cheating.

After one month of this deal, Mr. Z was contacted directly to the bank. He told, everything is ok but why was not coming formal copy of FD ( I think) or he demanded any other document. On this, he got the information that some persons had taken the loan of Rs. 5 Crores and you have made them authorized. Mr. Z was very sad. He took the help of Police. Police helped him by capturing all these chartered accountants and other persons involved in cheating. Court ordered them 7 years jail.

From Above Story, All Chartered Accountants of India Should Take the Lesson 

1. To earn Rupee 1 through honesty is great. When you will keep this Rupee in your pocket, you will feel relax. You will feel peace.

2. Remember the days when you have not earned a rupee who supported to you. Yes, your parent or your guardian. All they wanted to make a honest citizen of India and you should not down their faces through involving any cheating.

In End 

If I open the diary of my experiment on truth, I can say :

1. Yes, I had made false balance sheet of client when I was working as audit trainee which was my bad chapter of life. For this, I pardon to God, "O, God, give me its punishment but please give also power to tolerate this punishment which will be given to me for my past sin.

2. Yes, I had done the bogus signature of the prior owner for selling our old car. Today, I can give  Excuse that my soul was weak and my evil mind was powerful. But what its benefit.

We all do something bad. It is very easy to find the faults in others but it is very difficult to remove our own faults. So, we should improve ourselves.

For our young chartered accountants of India, I can only say,

You are our India's diamonds. We always see you on this position. So, Never follow above chartered accountants idea. For remembering yourself, always, write, "MR._______ Selfless and Honest Chartered Accountants and Associates. By seeing this millions of times, it will effect on your character because our character is nothing but the practice of what we see, what we speak and what we think. So, speak truth. Behave honestly and do selflessly will make the difference. 

Related : It is Easy to Find Fault with Others


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Accounting Education: How do Chartered Accountants Earn by Cheating
How do Chartered Accountants Earn by Cheating
Accounting Education
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