Making companies spend on the basis of the profits is not a good idea, said Irani. My objection is that the percentage is wrong, because profits fluctuate. So, should a company spend more on CSR when it is making good profits, and spend nothing when down in the dumps
Irani also said changing auditors, as the Bill proposes, is not a good idea. He said he had pointed out to the ministry that major frauds break out after new auditors join, since they are not familiar with the workings of the company.