Union finance minister Nirmala Sitharaman on Saturday appealed to auditors to embrace technology and educate smaller companies to grow.

She said the next 25 years are ‘critical’ for India to achieve a developed nation status.

The minister remarked that the country has progressed at many levels in the last 20-25 years and even the World Bank report has said India has achieved in the last decade what it could not be achieved in 60 years.

“I am talking to veterans of this profession. You are one of the oldest registered bodies. I would think my meeting with you all is not just only to celebrate the 90 years, but also to say celebrating at a time when this profession has to take newer responsibilities,” she said at the 90th anniversary celebrations of The Society of Auditors here.

Sitharaman pointed out that the practices of chartered accountants were going through a lot of change,
globally and said even some of the audience gathered at the venue had already started to feel the change in their profession.

“I commend the way in which technology has come into play and many of you
are happily adapting to it and that is why even the examinations of chartered accountants is going to be of a different format from next July,” she said.

Sitharaman said that in the next 25 years India will have a ‘narrow window’ to become a developed nation and every one of us has to play a very important role in not only focusing on our profession but looking at ways to better serve the nation.

Recalling that lawyers left their profession to join the Freedom movement, she said: “Today nobody expects you to leave your profession but serving the country and its goals will have to be a part of your identity and also part of your business model.”