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The Minister of State for Commerce and Industry (Independent Charge) Nirmala Sitharaman addressing at the 46th Regional Conference of ICAI in Madurai on December 13, 2014
The Minister of State for Commerce and Industry (Independent Charge) Nirmala Sitharaman addressing at the 46th Regional Conference of ICAI in Madurai on December 13, 2014

Madurai, December 13, 2014 (Online News India): Minister for Commerce and Industry Nirmala Sitharaman has called upon the Institute of Chartered accountants of India (ICAI) to act as a catalyst in evolving transparent processes and ensuring accountability. She commended the role played by the ICAI in bringing about various changes in the provisions of the Companies Act. Minister was speaking at the 46th Regional Conference of the ICAI in Madurai.

The minister also asked the ICAI to interact with the government which is understanding and responsive to the demands of various sections of the society, industry and professionals. She pointed out that this is “the right government to deal with.”

The minister said that the ICAI must also think of upholding quality while at the same time taking care of the numbers too. She pointed out that the demand for chartered accountants is felt in every facet of the industry, be it venture capitals, companies or manufacturing units.

The minister also made the point that professionals like CAs must apply their minds to cut “the huge undergrowth of laws, regulations and help carry the economy forward without hindrance”. She reminded that the government has laid stress on transparency,” Less government and more governance and on implementing best practices that are scalable and that can be emulated. She called upon chartered accountants to come up with new ideas in these areas.

Earlier the minister was given a warm welcome by the office bearers of the ICAI which included President of the ICAI K Raghu and Chairman of the South Indian Regional Conference (SIRC) P V Rajarajeswaran. BJP Tamilnadu Vice President H Raja was also present.

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