Observing that the next 25 years are ‘critical’ for India to achieve developed nation status, Union Minister Nirmala Sitharaman on Saturday appealed to auditors to embrace technology and educate smaller companies to grow. Sitharaman pointed out that the practices of chartered accountants were going through a lot of change globally. Sitharaman rebuked the opposition parties’ contention that the Enforcement Directorate was used to conduct searches in a company which was involved in tax evasion. Urging the auditors present at the venue to upgrade their skills, Sitharaman said technology driven changes are dominating Chartered Accountancy and one must have greater knowledge in using “deep-tech” and “data mining”. Auditors and chartered accountants should think how they can reach out to small and medium clients, she said.

Source: Economic Times September 18, 2023 06:48 UTC