Quick Summary
Senior Congress MP Vivek K. Tankha on Thursday strongly advocated for a dedicated "CA Protection Act" in Parliament, stating that India's nearly5 lakh Chartered Accountantsare facing increasing professional risks, privacy concerns and disproportionate scrutiny from investigative agencies. Raising the issue during a parliamentary intervention, Tankha said the CA fraternity including over four lakh Indian professionals working abroad, serves as the "gatekeepers of Indian businesses" and plays a d
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FAQ :
Vivek Tankha is calling for the introduction of a 'CA Protection Act' in Parliament to protect Chartered Accountants (CAs) from professional risks and privacy concerns.
He believes it's necessary because CAs face increasing professional risks, privacy concerns, and disproportionate scrutiny, and they need legal safeguards similar to those protecting lawyers and doctors.
Tankha stated that CAs are the 'gatekeepers of Indian businesses' and play a decisive role in the practical implementation of government reforms and economic measures.
He is concerned about the dominance of multinational audit giants (the 'Big Four') in India's audit sector, noting that large networks secure mandates worth thousands of crores while most domestic firms are small.
He suggests creating an enabling framework to encourage Indian CA and law firms to scale up their operations and compete more effectively with global players.
Tankha highlighted that Indian CAs working overseas significantly contribute to cross-border business flows and investment into India, calling them 'your biggest support'.
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