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NEW DELHI, March 14

THE Finance Minister, Mr Jaswant Singh, on Friday indicated that the Government might go ahead in implementing some of the recommendations made by the Naresh Chandra Committee on Corporate Audit and Governance.

He also promised a level playing field to the domestic chartered accountancy firms and hinted at steps to enable them face the challenges emerging from the opening up of the profession to foreign competition.

``The Government will stand shoulder to shoulder with you. Higher standards in accounting are also necessary to ensure that the corporate scams recently witnessed in the West do not take place here,'' Mr Singh said while addressing a meeting of the Action Committee of Chartered Accountants of the Swadeshi Jagran Manch (SJM) here.

Mr Jaswant Singh asked the chartered accountants to come out of their "limited vision" and inculcate self-respect and self-confidence for making progress in their profession.

In his address, the SJM National Convenor, Mr S. Gurumurthy, referred to the ``thoughtless opening up'' of the accounting profession since 1991 — particularly the consultancy services sector openly and the audit services sector surreptitiously.

He claimed that this approach had resulted in total and unfair advantage to the foreign CA firms in India.

Mr Gurumurthy held that there was no level playing field for Indian CA firms even in India, not to speak of a level playing field abroad.

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