Bhubaneswar, August 17: Union Education Minister Dharmendra Pradhan and Union Finance & Corporate Affairs Minister Nirmala Sitharaman on Thursday addressed the 20th National Chartered Accountants’ Conference held at Sikha ‘O’ Anusandhan(SOA) University here in Bhubaneswar.
During her address, Sitharaman asked the chartered accountants to adequately familiarise themselves with the new formats of accounting with the growing areas of auditing, including ESG (environmental, social, and governance) and carbon accounting.
The Finance Minister said fast adoption of technology by finance professionals will come in handy in such efforts. She asked CAs to embrace technology in a big way in their work as it would yield huge productivity gains in their functioning.
“The Government is actively ensuring that India’s Chartered Accountants become global leaders and engage with counterparts from other countries, thus enabling the sharing of the best possible knowledge,” Sitharaman said.
Noting that India’s economy is driven by start-ups, new-age industries, and industries transitioning from traditional methods to modern approaches, she said all of this requires the support of CAs, guiding clients and encouraging them to embrace new technology. This will be possible only when CAs are at the top in adopting technology.
“I hope you will build on the success of the World Congress of Accountants (WCOA) held in November 2022, and you should strive to forge more collaborations with other international organisations,” the Finance Minister added.
Union Education and Skill Development & Entrepreneurship Minister Dharmendra Pradhan during his address said, while India has become the 5th largest economy, we have also emerged as a global fin-tech superpower.
“We are on course to become the 3rd largest economy. Our CA fraternity will be the catalyst of this economic growth,” Pradhan said.
“ The CAs have to handhold and provide financial guidance to start-ups, women entrepreneurs, nano enterprises of the bottom of the pyramid and MSMEs for adding more strength and structure to India’s entrepreneurial spirit and overall growth,” Pradhan added.