In a significant intervention in the Rajya Sabha, senior advocate and Member of Parliament Vivek Tankha raised concerns regarding the growing sense of vulnerability among Chartered Accountants (CAs) in India and abroad. Emphasising their critical role in the functioning of businesses and implementation of government policies, he called for the enactment of a dedicated “CA Protection Act” to safeguard the profession.
Tankha described Chartered Accountants as the “gatekeepers of businesses” and crisis managers who play an indispensable role in operationalising fiscal and regulatory frameworks. Despite their importance in ensuring compliance and financial transparency, he noted that many professionals in the field feel increasingly threatened, particularly in relation to privacy and confidentiality obligations.
According to Tankha, the present environment has created apprehensions within the CA community regarding professional independence and protection of sensitive client information. He urged the government to consider a comprehensive legislative framework that would ensure institutional safeguards, protect professional confidentiality, and reinforce trust in the auditing ecosystem.
The MP also turned attention to the structural dynamics of India’s audit landscape. He pointed out that the Big Four accounting firms—Deloitte, PwC, EY, and KPMG—continue to dominate large audit mandates in India. Stressing the need for a more balanced ecosystem, Tankha advocated measures to strengthen and promote Indian CA firms so that they can scale up and compete effectively.
Highlighting the concentration of audit power among a few global players, he suggested that encouraging domestic firms to grow would not only enhance competition but also reduce over-dependence on multinational audit networks.
The remarks have sparked discussion within professional circles, particularly at a time when regulatory scrutiny, data protection concerns, and audit accountability remain central to financial governance debates. Whether the proposal for a CA Protection Act will translate into legislative action remains to be seen, but the issue has now formally entered parliamentary discourse.
