"CHARTERED ACCOUNTANTS ENSURE ETHICAL INTEGRITY OF THE ECOSYSTEM"

SETHURATHNAM RAVI, Founder, Ravirajan & Co. & former Chairman, Bombay Stock Exchange (BSE), speaks to BW Businessworld's Arjun Yadav on the evolving role of chartered accountants (CAS), navigating regulatory and compliance environment and reforms expected at large. Excerpts:

- Arjun Yadav

How do you see the role of CAs in shaping the Indian economy?

Chartered accountants (CAs) are the heart of the economy. They drive financial planning, ensure compliance, file returns, and oversee books. They are the conscience keepers of the financial system. Many CAs have gone on to head banks, participate in politics, work in the film industry, and are big industrialists. Despite being a small community in a vast population, their impact is immense. They have a privileged position with a significant role in shaping the Indian economy.

How has the role of CAs evolved, especially with respect to mergers and acquisitions, forensics and guiding startups?

When the profession started, it focused on audits and filing income tax returns. Now, it encompasses multiple disciplines, including forensic audits, insolvency, GST consulting, and policy making. CAs develop business models, lead companies, and play an integral role in the startup space, from inception to profitability. Many specialise in startups, which often can’t pay much, yet require significant support.

What are your thoughts on how the industry is navigating regulatory and compliance challenges?