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Professional Development Committee The Institute of Chartered Accountants of India 9th November, 2023 Announcement Empanelment of Chartered Accountant firms/LLP by Office of CAG from the empanelment year 2024-2025 The office of CAG has been giving cognizance to location of the Head office as well as Branch Offices of the firms for the purpose of allotment of audits of Government Companies and its units located at various locations. It has been informed by the Office of CAG that
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FAQ :
From the empanelment year 2024-2025, the Office of C&AG will consider a firm's or LLP's branch office for audit allocation only if a specific number of full-time partners are stationed there.
For a branch office to be considered, at least 50 percent of the firm's or LLP's full-time partners, or two full-time partners (whichever is less), must be stationed at that branch.
These new rules apply from the empanelment year 2024-2025.
The changes were announced by the Professional Development Committee of The Institute of Chartered Accountants of India (ICAI).
The announcement specifically details changes related to the consideration of branch offices. It implies the head office location was previously considered, but the new criteria focus on branch office partner presence.
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