New Delhi, Feb 7 (IANS): Lok Sabha Speaker Om Birla on Friday termed chartered accountants the "nation's financial guides" and the "guardians of its treasury".

Presiding over the 70th Annual Function of the Institute of Chartered Accountants of India (ICAI) here, he said that CAs are not only the backbone of nation's economy but are also excellent administrators, strategists and advisors.

"Their expertise in these matters is exceptional," he added.

Congratulating the ICAI for their outstanding professionalism, dedication and service to the nation, Birla observed that the Institute is an important pillar of the nation's financial and economic system.

"Chartered accountants are the nation's financial guide, the guardians of its treasury as well as experts on the effective financial management," he said, underlining that in the present globalised world, it is vital that CAs, as "conscience keepers of economy", provide critical analysis of those schemes and programmes that have a far-reaching impact on the nation's economy.

Observing that CAs are also the reliable ambassadors of the country's economic system, Birla said that their signatures on any account bear a testimony of truthfulness.

At a time when the country has moved in the direction of 'One Nation, One Tax, One Market', the CAs have an important role to play, he noted.

Birla exhorted the CAs to be even more vigilant so as to facilitate the creation of a more transparent and corruption-free system in the country.