Chartered Accountants key role in economy stressed: Minister N Amaranatha Reddy.

Tirupati: Chartered Accountants (CAs) play a crucial role in preserving the wealth of the nation and individuals by making every rupee accountable in a proper way, said Minister for Industries N Amaranatha Reddy.

He addressed the inaugural function of the two-day sub-regional conference of South India Regional Council (SIRC) which belongs to the Institute of Chartered Accountants of India (ICAI). It is being hosted by the Tirupati branch of SIRC and the theme for the two-day conclave was ‘Sudharma’ (Good Law). 

Speaking on the occasion, the Minister lauded the efforts of CAs in educating people to go in proper way in dealing with their financial matters by following the government policies from time to time. 

To discuss various trends and issues in the taxation policies of the government and to know the latest technology that will help in accounting these types of conventions are very important, he said. Upcoming CAs can benefit to a great extent with the lectures of experienced CAs in the field and increase their knowledge towards the betterment of the society.

Responding to the request made by SIRC to provide land on government rate in Tirupati to build CA Institute, the Minister assured that he will take forward the proposal to the Chief Minister and expedite the process.

The organisers explained that the building will be necessary to make more CAs to get updated on the latest policies from time to time. The institute is expected to provide training, services, guidance, refresher courses and organise lectures and conferences. 

The past president of SIRC and present ICAI Central council member M Devaraja Reddy said that there are 2.8 lakh CAs in the country and they are getting constantly updated on new policies like GST, changes in corporate policies, Income Tax Act etc., and the SIRC has been continuously creating awareness among the CA fraternity on the latest developments.

In the conference they will dwell at length on the practical issues the CAs have been facing in dealing with the latest policies and will find solutions to them. If needed, they will be taken to further levels up to the Ministry of Finance to address them.

The coordinator of the conference and past president of SIRC E Phalguna Kumar said that among the 2.8 lakh CAs, 50 per cent are around 30 years of age and the remaining are experienced. 

Due to changes in fiscal laws especially during the last five years, number of registrations had gone up significantly and this conference will discuss the practical problems involved in dealing with technology and it will also help update knowledge of CAs. He termed CAs as ‘wealth builders and wealth guardians.’

The chairman of Tirupati chapter of SIRC K Manohar Naidu, secretary V Murali, SIRC chairman A Venkateswara Rao, secretary T Chinna Masthan, MLA G Suguna, TUDA chairman G Narasimha Yadav and delegates from five southern states are taking part in the conference.