India News | Audit Bureaus to Probe Economic Offences, Company Frauds Formed: TN CM

Chennai, Nov 19 (PTI): Tamil Nadu has formed audit bureaus to probe into economic offences and company frauds, Chief Minister M K Stalin said on Friday.

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Stalin, addressing chartered accountants, assured them that the government was ready to implement the recommendations made by them and that would lead to inclusive growth and enhance the financial status of the State.

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"There are a lot of people from your department who hold top government posts. They are also present in government committees offering suitable recommendations. At this juncture, I wish to state that the government has formed audit bureaus to probe economic offences, company frauds," he said at the 53rd zonal conference of The Institute of Chartered Accountants of India through virtual mode.

Noting that there was a period when chartered accountants were looked as financial supervisors, he said they have grown as guardians of the economy through their constant efforts.

"I can say without any doubt that you play a significant role in shaping the economy of a country. Continue the work that would lead to financial discipline in society. The government is ready to extend support," Stalin said.

For a country to lead among other countries, strong financial infrastructure and financial discipline is required and to reach that status, people look up to chartered accountants seeking necessary guidelines, he said.

Stating that the work of a CA does not end with the Finance Department, the Chief Minister said CAs make immense contribution in creation of laws, agricultural and country's development. "It is therefore apt to call you as contributors to the country's development," he said.

The Chief Minister recalled that ICAI council member V Jegadeesan, a veteran, was a good friend of DMK patriarch and late M Karunanidhi for more than five decades.

Stalin also referred to the setting up of a separate building for taking up research-related work at the ICAI South Zonal office in Chennai during the DMK regime. "The only Chief Minister who has visited the ICAI Chennai office is our leader (M Karunanidhi)",he said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)