The Tamil Nadu Government has constituted auditing teams at the Directorate of Vigilance and Anti-Corruption and the Economic Offences Wing to probe the fraudulent practices of some companies, Chief Minister M.K. Stalin said on Friday.
He was delivering a virtual address from Chennai at the inauguration of the 53rd regional conference of the Southern India Regional Council of the Institute of Chartered Accountants of India held at Coimbatore.
He said, “There was a time when chartered accountants were seen as only monitors. Now you have grown to become guardians of the economy through your tireless efforts.” The State Government was prepared to implement suggestions from chartered accountants for mending its finances and for preparing policies for inclusive growth.
Finance Minister Palanivel Thiaga Rajan said the State Government had launched initiatives “with either the focus on, or with the support of, auditors,” recalling the Budget proposal to ensure the independence of internal audits. “The role of auditors is inherently very important in the design of the Constitution of our democracy,” he said. Account statements were “essential for a shared understanding of a complex organisation”.
ICAI president Nihar N. Jambusaria said the Institute had taken up initiatives to ensure gender equality, thanks to which 45% of the students and 29% of the ICAI members were women. He urged the ICAI members to conduct programmes on auditing standards and adoption of audit tools based on the latest technology.
At a press conference later, he said the ICAI was revising the syllabus for the CA examination by introducing an open book system. The revised syllabus would be finalised in the next “four to six months”.
