Lokesh Urges CAs to Stay Updated in Their Field

Swift Summary

• IT and HRD Minister Nara Lokesh addressed ICAI’s mega student meet ‘Spoorthi’ in Guntur.
• He emphasized the need for chartered accountants (CAs) to be updated on their expertise and prepare for advanced technologies like artificial intelligence (AI).
• Lokesh praised ICAI for being the first globally to implement forensic accounting standards, highlighting its contributions over 76 years as an “accounting powerhouse.”
• CAs were recognized as key players in India’s financial system and economic growth; their input is valued by the Andhra Pradesh government in policymaking.
• Lokesh stated ICAI’s role is vital to achieving PM Modi’s “Viksit Bharat” vision, aiming for a $30 trillion Indian economy by 2047.
• The event was attended by notable figures including MLA Galla Madhavi, ICAI vice-president D.Prasanna Kumar, and other regional Council representatives.

Indian Opinion Analysis

The comments from IT and HRD Minister Nara Lokesh underscore the evolving role of CAs within India’s economic framework. Embracing advancements like AI reflects an effort to modernize traditional sectors alongside technological progress. the recognition of ICAI’s forensic accounting standards highlights India’s leadership in setting global benchmarks in financial practices. By involving such institutions closely with state financial policymaking, there’s a potential boost to clear governance while aligning with broader national goals.The minister’s connection between professional excellence among CAs and PM Modi’s ambitious economic targets further positions this accountability-focused profession as integral at both microeconomic (file auditing) and macroeconomic levels ($30 trillion vision).This tie could encourage further integration between professional bodies like ICAI and policymakers for enduring growth strategies.

For more details: Read More