Current spate of financial crises has reinforced role of auditors' - Pranab Mukherjee

President Pranab Mukherjee on Thursday said that the current economic environment poses many issues in the financial and accounting world, and added that the chartered accountants have an important role to play in advising the management as well as users of financial statements.

While inaugurating an International Conference on 'Accountancy Profession: Emerging Frontiers of Future Growth' organized by the Institute of Chartered Accountants of India (ICAI) here today, President Mukherjee said members of the accountancy profession perform a critical function through their audit reports.

"By discharging this responsibility in a proper manner, Auditors create public trust not only in their profession but also the entities they audit," he said.

He also said a hallmark of the accountancy profession is its obligation to act in the public interest.

"The current spate of financial crises have only reinforced the role that the profession has to play in providing high quality financial information, facilitating market discipline and fostering confidence amongst various stakeholders in the financial markets," he added. (ANI)