Vice-President Jagdeep Dhankhar said on Friday that any dilution of the unique role of chartered accountants (CAs) would have cascading impact on the nation’s economy and financial health.

Addressing the inaugural session of ‘Global Professional Accountants Convention’ in Gandhinagar, he also stressed that tax evasion and financial frauds endanger the financial stability and growth of the economy, a statement issued by the Press Information Bureau (PIB) said.

Addressing CAs, he said, “I am before an audience that has a huge potential to generate exponential growth of an economy because you know everything about it. You are beyond X-ray, you are beyond MRI, you are the finest form of MRI and I call upon you, I urge you to nurture the spirit of economic nationalism among the trade, business and industry.”

“Advising on tax planning is your domain. But this domain has a thin line. This should not extend to tax dodging and tax evasion,” he added. Describing CAs as the custodians of this thin line, he asked them to “always tilt in favour of tax planning and condemn tax evasion”.

Asserting that there can be no legal transgression or window dressing if a CA is determined, Dhankhar said, “You alone can do this. No one else can do this. This is your exclusive domain. When a CA stands up, the resistance may be momentary, ultimately he has to prevail.”

Dhankhar emphasised the crucial role of CAs in driving the nation’s economic growth as the “nerve center and epicentre of big change”, which will shape what Bharat will be in 2047. He highlighted their contribution in combating corruption, uncovering malfunctions and detecting corporate fraud.

Dhankhar noted that in today’s ecosystem, transparency and accountability are the new norms. He highlighted that amid a zero-tolerance stance against corruption, the role of CAs flourishes. Noting that the adage, “be you ever so high, the law is always above you”, is now a ground reality, Dhankhar said that “people who think they are above law, they are special category, they have learnt lessons and hard way”.

The statement further said that Dhankhar spoke on the importance of economic nationalism in trade and industry and emphasised its priority over fiscal gains.

Union Minister of Commerce and Industry, Piyush Goyal as well as Gujarat Minister Praful Pansheriya, attended the event among others.