Mangaluru: Institute of Chartered Accountants of India (ICAI) Central Council member and Professional Development Committee Chairman Ranjeeth Kumar Agarwal opined, “Internal auditors at Punjab National Bank” should be called merely “internal inspectors” for the purpose of maintaining the credibility of genuine auditors.

Addressing the media at a press meet on the sidelines of the two-day national conference of ICAI “Swadhyaya” here at the TMA Pai Convention Hall on July 6, Agarwal denied any connection between internal auditors at PNB and the ICAI. “It is incorrect to blame ICAI auditors in PNB scam”, he said.

Highlighting the contribution of ICAI, he said, “Without the contribution of ICAI, implementation of GST wouldn’t have been possible.”

He also outlined the works of ICAI in raising capable accounting professionals in the country. “Professional Development Committee of ICAI takes care of the all-round development of the profession. We have 2 lakh members and 8 lakh students across the country. The committee has nearly 70,000 women members. We are providing the most affordable degree with technical knowledge which suits middle-class country at a cost of just Rs 60000”, he added.

He also said that from July 16 the ICAI would be launching virtual classes for the students of inter and final examinations.

Madhukar N Hiregange, member ICAI of Bengaluru said, in 2015, the government had approached the ICAI for preparing training materials for its officers on GST. “Nearly, a 590-page long book was prepared to train the government officials in the year 2016. The latest version of the book is available on ICAI website. This 1700 page document is probably the most comprehensive book on GST”, he said.