Speaking at the inaugural session of a two-day sub-regional conference, themed on ‘Sudharma – Good Law’, organised by the South India Regional Council of The Institute of Chartered Accountants of India (SIRC – ICAI), here on Wednesday, Minister for Industries N. Amarnath Reddy said auditors’ assessments were crucial to monitor funds for various welfare schemes and developmental activities in the government sector.
Terming the conduct of such conclaves 'essential' for updating and improving auditors’ skills, he said that such events offer platform for knowledge transfer and equip Chartered Accountants (CAs) to guide people on financial matters corresponding to changes in government policies.
Responding to the request of the SIRC – ICAI of allotment of government land for setting up a 'CA Institute' in Tirupati, Mr. Reddy said that they would extend all the necessary help on the State government’s behalf.
ICAI Central Council Member M. Devaraja Reddy and Conference Coordinator E. Phalguna Kumar (both past Presidents of SIRC) said that there are nearly 2.8 lakh CAs in the country and 50 per cent of them are around 30 years of age. They said that such conferences, presided over by expert speakers, would keep the auditors updated on fiscal laws, tax registrations, GST, income/ corporate tax, new Companies Act, demonetisation etc. .
They said that setting up of a 'CA Institute' in Tirupati, would benefit auditors in Rayalaseema to undergo training via awareness programmes i.e., lectures and conferences.
“If the State government can offer us a 'helping hand' in providing land for the institute at the prevailing government rates, we will take up the construction immediately and ensure that CAs in Rayalaseema are regularly updated and trained on the latest government policies ,” they added.
Tirupati MLA M. Suguna, TUDA Chairman G. Narasimha Yadav, SIRC Tirupati Chapter Chairman K. Manohar Naidu and Secretary V. Murali, SIRC Chairman A. Venkateswara Rao and Secretary Chinna Mastan and delegates from the southern region participated in the event.