‘Institute played a crucial role in continuing education programme for CAs’

The Institute of Chartered Accountants of India (ICAI) should invest more in research, Minority Affairs Minister K. Rahman Khan said here on Tuesday.

Participating in a felicitation function organised by the institute, he said that Chartered Accountants (CAs) had been contributing to the growth of the country and the profession was considered as one of the most respected in the country. But, sometimes growth had its own problems. As the economy grew, the stakeholders would increase and diverse opportunities were available for the profession. Today, the client for a chartered accountant was not just a corporate or an individual.

The institute should continue to play a dynamic role in the progress of the country. The chartered accountants should be equipped. The institute played an important role in the continuing education programme for chartered accountants.

The country’s economy was growing and people were contributing to growth. “Our average saving is 32 per cent to 33 per cent of the GDP,” he said.

The strength of the country’s economy came from the common man who was saving.

“In such a scenario, we should protect the hard-earned saving of the common man.”

The institute and the profession should be prepared to take up more responsibility. Whatever was collected from tax payer, for the schemes and services, should reach the beneficiary.

To monitor these programmes, the institute and the profession may be entrusted with the responsibility.

“A thought is going on in the government that monitoring is failing.”

It was now mandatory that expenditure of the MP fund was audited by a Chartered Accountant. Monitoring of schemes was also important. The institute should also have its own opinion on various important issues, he said.

Institute should continue to play a dynamic role in the progress of the country