COIMBATORE: The State government has set up auditing teams in the Directorate of Vigilance and Anti-Corruption (DVAC) and the Economic Offences Wing (EOW) to investigate into fraudulent practices of companies, Chief Minister MK Stalin said on Friday.
He announced this while delivering a video address at the 53rd regional conference of the Coimbatore Branch of Southern India Regional Council (SIRC) of Institute of Chartered Accountants of India (ICAI).
The Chief Minister said the work of chartered accountants is not limited to finance and auditing alone. “Chartered accountants are not just supervisors, they are economic protectors,” he said.
Minister for Finance and Human Resources Palanivel Thiaga Rajan during the virtual address said the government has come up with several initiatives with either a focus on or with the support of auditors on ensuring the independence of internal audits. Later, addressing media, ICAI president Nihar N Jambusaria said the institute is working on revising the syllabus for CA examination by introducing an open book system.