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WHENEVER there is a prolonged hostage crisis, people talk about the Stockholm syndrome — the emotional attachment between captive and captor that develops when the captive cannot escape, is isolated and threatened with death, but is shown token acts of kindness by the captor. The psychological shift takes place in 3-4 days, they say. In the case of the CA Institute president, the swing has taken longer. "A fresh wind is blowing and we should be ready to catch that wind in our sails," he writes. And believes that all of us agree. "And if that is so, then where lies the problem?"

Random reports being published everywhere, he writes, perhaps about the profession and its blemishes. They are not helping matters. So? "We should be wise enough to see them as what they are — random reports only."

For those who want more light, there could be confusion in store. Such as: "There is no positive evidence that rotation of auditors improves audit quality. Likewise, there is also no positive evidence that continuation of an auditor impairs independence and effectiveness." Similarly, if you want to know what's happening in the Naresh Chandra Committee, take his word: "I shall report to you at the appropriate time when matters become reportable."

"What I am really saying is that fortunately or unfortunately, we are bombarded by information whose veracity we cannot always check," the president writes in exasperation. "It is therefore more prudent to see that the reality is before we as a fraternity react to it." That may take too long, you fret. "In our country, things do not happen very fast. That is bad in some ways," agrees the president. "But it is also good in many ways." How? "We do not accept things that others have accepted just because of that fact; and in many instances we are right." So, go slow. But keep left.

At the end of almost five-sixth of his tenure, he has understood the system. That change requires compromise and statesmanship. He wraps up characteristically with a quote from the Mahabharata: "The essence of truth of method." Understood?

hindubusinessline@hotmail.com

D. Murali

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