New Delhi, Jul 1 (PTI) Chartered accountants are the custodians of trust in the financial system and the standards should not be diluted, Vice President C P Radhakrishnan said on Wednesday.
Emphasising the importance of ethical practices, he also said that economic growth without ethics would not serve any purpose.
He was the chief guest at the function to mark the 78th Chartered Accountants’ Day in the national capital.
“Chartered accountants are the custodians of trust in the financial system…,” Radhakrishnan said and highlighted the ICAI’s tradition of integrity, excellence, accountability and service to the nation.
The Institute of Chartered Accountants of India (ICAI) has more than five lakh members. It conducts the qualifying examinations
for individuals to become chartered accountants.
The failure among the chartered accountants is the “highest minimal” due to the high standards of the chartered accountants examination, Radhakrishnan said and asserted that the standards should not be diluted. Ease of doing business should be within the legal framework of the country and saving money at the cost of quality would be disastrous, he said.
Further, the Vice President said that chartered accountants and cost accountants should work together, whereby they can help entities in reducing their costs. PTI RAM SHM
