“CAs Feel Threatened, Their Privacy is At Risk”: Vivek K. Tankha Seeks CA Protection Law in Rajya Sabha

Vivek K. Tankha, Congress MP from Madhya Pradesh, raised concerns in the Rajya Sabha about the safety and professional freedom of chartered accountants (CAs). He said the CA community in India is feeling pressured and needs legal protection.

Tankha said he was speaking for a large number of professionals.

“I’m voicing the concern of nearly 5 lakh chartered accountants who live in this country and work, and also more than 4 lakh who live abroad.”

He described CAs as an important part of India’s economy and business system. According to him, they help businesses follow government policies, especially during major reforms.

“Sir, they are the gatekeepers of our businesses. They are the crisis managers of our unoperationalized government policies.”

Tankha pointed to demonetisation and GST as examples. He said that while ministers make announcements, CAs help people and businesses implement the changes.

“If you remember demonetization, the ministers may announce, but it’s these CAs who implemented it.”

He said GST also became complicated for common people because of many rules and forms, and CAs helped businesses manage the system.

However, Tankha said that today many CAs feel threatened because of increasing interference by investigative agencies.

“The problem today is the CAs feel threatened. Their privacy is threatened. Their client confidentiality is threatened.”

He questioned how agencies can enter their professional space so easily.

“How can agencies intrude into their profession with such impunity?”

Tankha also referred to a Supreme Court observation, saying that a CA should not be held responsible for documents given by clients.

“You can’t make a CA responsible for a document given by a client.”

He then demanded a new law to protect chartered accountants.

“Time has come for a CA Protection Act… So now CAs also need to be protected.”

Apart from legal protection, Tankha also raised the issue of big international audit firms dominating large financial work in India. He said India has nearly 1 lakh CA firms, but most big mandates go to the Big Four.

He said Indian firms should be supported so they can grow and compete at a higher level.

Tankha also highlighted the contribution of Indian CAs working abroad, especially in West Asia. He said they help bring business and money to India. Tankha ended by asking why such professionals, who support the economy and help implement policies, are now feeling unsafe in their work.

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