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Chennai: India needs faithful chartered accountants for its development: FM Nirmala Sitaraman

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Union Finance Minister Nirmala Sitaraman has said that the enforcement directorate uses artificial intelligence to trace and identify violators. Speaking at the Society of Auditors in Chennai today, she suggested to the chartered accountants to be more careful in auditing all the companies.

The Minister said that the country needs faithful chartered accountants for its development. In her speech, Ms. Sitaraman said that India has the strength of good professionals for chalking out strategies in economic development policies.

She said that the upgradation of skills, understanding global standards, and working accordingly are necessities of the present day for chartered accountants.

The Minister said that India is marching ahead by signing a memorandum of understanding with many countries including Australia, New Zealand, Saudi Arabia, UAE, and South Africa for mutual recognition of chartered accountants.

She said that it has become very easy for Chartered accountants to link with their counterparts in other countries for trade improvement. The Minister also reiterated that consistent efforts are needed to improve the forex reserves.

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