India's accounting profession is undergoing a significant reform with the shift from SQC-1 to SQM-1, a risk-based quality management framework. This transition, mandated by April 2026, requires a fundamental change in mindset from documentation-driven compliance to a proactive, risk-prevention approach. SQM-1 expands quality control elements, mandates continuous monitoring, and root cause analysis, aligning Indian firms with global standards and supporting the nation's vision for world-class professional services.
Prime Minister Narendra Modi has repeatedly emphasized India's potential to develop home-grown professional services powerhouses-firms that can stand shoulder-to-shoulder with the global Big Four. His vision is clear: India should not only be a consumer of international audit and consulting brands b
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