Nirmala Sitharaman Urges Auditors to Embrace Technology and Educate Smaller Companies for Growth, CIO News Reports

Nirmala Sitharaman Urges Auditors to Embrace Technology and Educate Smaller Companies

India’s Finance Minister, Nirmala Sitharaman, has called on auditors to embrace technology and educate smaller companies to foster growth.

Sitharaman emphasized the importance of the next 25 years for India to achieve developed nation status.

She commended the profession’s adaptation to technology and announced changes to the format of chartered accountants’ examinations.

Sitharaman urged auditors to consider serving the country’s goals as part of their identity and business model.

India’s Progress and Auditors’ Changing Role

In her speech at The Society of Auditors’ 90th anniversary celebrations, Sitharaman highlighted India’s progress over the past 20-25 years and the changing landscape of the auditing profession.

Embracing Technology and New Responsibilities

Sitharaman commended auditors for embracing technology and adapting to the changing profession. She announced upcoming changes to the format of chartered accountants’ examinations to align with technological advancements.

Contributing to the Growth of the Nation

Sitharaman emphasized the importance of auditors contributing to the growth of the nation. She encouraged them to advise clients on investments that would generate good income and revenue for the country.

She also urged auditors to inform the government about tax evasion without revealing the names of companies or individuals involved, emphasizing the importance of maintaining anonymity for their safety.

Sitharaman concluded by stating that with the help of artificial intelligence, she and her officials are able to investigate tax evasion cases across various locations.

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