Independence of CAs is vital, says FM – Times of India

Mumbai: Finance minister Nirmala Sitharaman has stressed upon the need for the chartered accountant (CA) community to ensure fairness and transparency of financial accounts. She made the comments while delivering the keynote address at the 21st World Congress of Accountants (WCOA) — a four-day event held for the first time in India in its commercial capital.
“WCOA-2022 is focused on the themes of ‘trust, ethics, divisibility, technology, and sustainability’. This conference is happening at the time when the world is at reset and facing lots of challenges. I hope that through this forum our conversations rotate around social, economic, and environmental sustainability, along with exploring the integration of upcoming technologies like Web3, artificial intelligence, cloud, blockchain and data analytics. I am sure the congress will come out with takeaways that will provide solutions that dominate the transparency and accounting problems for India and for several countries.”
Sitharaman emphasised that “the independence of chartered accountants is extremely important and significant for the trust and integrity of financial statements”.
More than 9,000 delegates from across 100 countries are participating in the 21st WCOA, which commenced on Friday. The chief guest, Om Birla, speaker of the Lok Sabha, congratulated the Institute of Chartered Accountants of India (ICAI) for hosting such a grand event for the first time in India and South Asia. “WCOA highlights the importance of a knowledge-based economy and the significance of accounting at a global level. The essence of the Congress lies in the fact that if accountants from all around the world work together we can create a better future for the world.”

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