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In a dynamic call to action, Finance Minister Nirmala Sitharaman on Tuesday urged the Bihar chapter of the Institute of Chartered Accountants of India (ICAI) to spearhead the creation of a formidable Indian auditing firm. This firm, she envisages, should aspire to join the ranks of the globally reno
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FAQ :
She urged the ICAI, particularly its Bihar chapter, to spearhead the creation of a formidable Indian auditing firm that could rival the global 'Big Four' and attract international clients.
The 'Big Four' refers to the four largest professional services networks in the world, which offer audit, assurance, tax, management consulting, and advisory services: Deloitte, EY, KPMG, and PwC.
She believes that India has many highly respected and capable Chartered Accountants worldwide, and they should aim to build a top-tier firm from India rather than primarily becoming leaders within existing international firms.
The initiative is part of a larger vision to make India a developed country by 2047, with a specific focus on making eastern states like Bihar engines of national growth.
Bihar has been identified as having the potential to demonstrate significant leadership and innovation in accounting, and the Finance Minister challenged the Bihar ICAI to take the lead in establishing the new firm.
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