Chartered Accountants In PM's Line Of Fire

Black sheep can be found in any walk of life, but their few numbers can hardly justify condemning an entire group or profession.

- TN Pandey

In the nearly hour long speech that Prime Minister narendra Modi delivered on the ‘CA day’, on July 1, 2017, which also happened to be anniversary day of the establishment of the Institute of Chartered Accountants of India (ICAI), it is said, with utmost respect, that the PM has been unduly harsh towards Chartered Accountants of India (CAs) and their apex body, which, undoubtedly, is an important profession and helps the government and the economy to proceed successfully in their onward journeys. When I am penning these lines, I am not holding any brief for the errant and uncouth CAs, who defame the profession by their misdeeds. Black sheep can be found in any walk of life, but their few numbers can hardly justify condemning an entire group or profession.

PM’s observations regarding CAs were:

*CAs are the prime facilitators of black money generation;

*They were extremely busy during the demonetisation period. Some of them even cancelled their foreign holiday trips and worked round the clock to facilitate conversion of black money into white money. He expressed wonder as to what exactly kept them busy?

*He said rather in a threatening way that evidence against three lakh firms has been obtained through data mining and that one lakh companies have been struck off the register of companies. He wondered as to who could facilitate such activities and certified such companies’ accounts?