The Hindu : Andhra Pradesh / Visakhapatnam News : CAs asked to be impartial

Online edition of India's National Newspaper
Saturday, May 22, 2004

Andhra Pradesh

Andhra Pradesh - Visakhapatnam

CAs asked to be impartial

By Our Staff Reporter

VISAKHAPATNAM, MAY 21. The Company Law Board Chairman, S. Balasubrahmanyam, on Friday asked Chartered Accountants (CAs) to be "independent, impartial and fair'' in discharging their duties.

Addressing the all-India continuing professional education conference of the Institute of Chartered Accountants of India (ICAI) here, he said that opportunities for CAs had grown tremendously in the changing economic regime and that this had also cast a greater responsibility on them. Mr. Balasubrahmanyam said that the CAs position was statutorily recognised and that impartiality and objectivity on their part was essential to ensure "a fair statement of affairs.'' He said that he was looking forward to the day when the reports signed by the CAs `are taken for granted'.

Pointing out that the role of CAs was that of a "watchdog and not a bloodhound," he underscored the importance of uniformity in their task. In this context, he lauded the efforts of ICAI setting the standards for their job. The CLB chief advised the CAs to update their knowledge constantly. The ICAI central council member, G. Ramaswamy, said that the institute had launched a programme for continuous professional education of its members in the country through its chapters and was supplementing the effort through teleconferencing and web telecast.

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