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The Institute of Chartered Accountants of India (ICAI) is gearing up to finalize its international networking guidelines for Indian chartered accountant (CA) firms by the end of this fiscal year. The move is part of ICAI's broader mission to enable Indian CA firms to compete on a global scale, ICAI President Ranjeet Kumar Agarwal revealed during a recent briefing in the national capital. Empowering Indian CA Firms for Global Competitiveness Currently, Indian CA firms lack specific guidelines
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FAQ :
ICAI is set to finalize its international networking guidelines for CA firms by the end of the fiscal year 2024-25.
The primary objective is to enable Indian CA firms to compete on a global scale and enhance their international standing.
ICAI has extended the mandatory period for merged firms from five to 10 years and is working to relax restrictive clauses on advertising and client solicitation.
Yes, ICAI plans to propose amendments to the Chartered Accountants Act, 1949, to facilitate the implementation of these changes, which will then be submitted to the government for approval.
ICAI has raised reservations with the Ministry of Corporate Affairs regarding proposed changes to auditing standards by NFRA, advocating for revisions that align with practical auditing realities in India.
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