In a globally integrated economy, fair and impartial audit is not just a domestic concern, but also an instrument to enhance our reputation and credibility on a global stage. It assumes greater significance during difficult times such as the one we are going through now due to the COVID19 pandemic.
With increasing complexity of financial markets and higher expectations from the public about efficient resource allocation, the role of audit has become even more important. As India aspires to grow faster, the expertise and independence of auditors will have to be leveraged to provide more assurance on financial performance to all stakeholders. We need robust audit for a dynamic and resilient economy. 4.