Piyush Goyal blames auditors for Nirav Modi scam

Union Minister for Railways and Coal Piyush Goyal on Friday said if auditors had done their jobs honestly and ethically then scams like the Punjab National Bank (PNB) fraud could have been avoided.

"If an auditor does his job honestly, ethically, judiciously, carefully with all the high standards the institute and teachers have set, could we have not avoided the scams like that of Nirav Modi and Mehul Choksi," the Union Minister said while speaking at JK Shah Classes, which gives academic training to CA student.

Talking of Chartered Accountant fraternity, Goyal said if the 2.5 lakh CAs in the country determined not to participate in any wrongdoings, India will be another country altogether.

"Many of the CAs don't like the theory that I have articulated and been saying from the past five to seven years. Sadly many brothers and sisters of our fraternity say I have become a critic of our fraternity. I am not a critic but just showed that if the 2.5 lakhs CAs be determined that they will not participate in any wrongdoings, this country will be another country altogether."

The minister also spoke about the issue of CBSE paper leaks of Class 12 and Class 10 and regretted that children had to suffer because of those who leaked the Economics and Mathematics papers.

"After all even in this paper leakage, as a student, I should have rejected the paper even if it came to me. Unfortunately, children have to suffer the consequences of the few people's misdemeanours and children are agitating down the streets," the Union Minister said.