In a landmark move aimed at bolstering the operational efficiency and global competitiveness of Chartered Accountant (CA) firms in India, the Institute of Chartered Accountants of India (ICAI) has officially announced the ICAI (Aggregation of LLPs) Guidelines, 2024. This strategic framework is designed to facilitate the aggregation of Limited Liability Partnerships (LLPs) and CA firms, fostering stronger synergies and streamlined operations across the country.
The guidelines were developed by the Committee for Aggregation of CA Firms (CACAF), constituted during the 2024-25 fiscal year. The committee's mandate is to drive reforms that ensure CA firms in India adapt to the evolving professional and regulatory landscapes. The aggregation framework aims to strengthen coordination among partner firms, enabling seamless delivery of high-quality audits across multiple locations nationwide.
Official copy of the notification has been mentioned below
Committee for Aggregation of CA Firms
The Institute of Chartered Accountants of India
4th February, 2025
ANNOUNCEMENT
ICAI (Aggregation of LLPs) Guidelines, 2024
[Issued under Section 15(2) (fa) of the Chartered Accountants Act, 1949
[as amended by the Chartered Accountants, the Cost and Work Accountants and
the Company Secretaries (Amendment) Act 2022]
The Committee for Aggregation of CA Firms (CACAF) of ICAI has been constituted during the year 2024-25 with a vision to initiate and implement strategic reforms that ensure Chartered Accountant (CA) firms in India remain at the forefront of professional excellence. Tasked with a pivotal role, the Committee has worked out ICAI (Aggregation of LLPs) Guidelines, 2024 with an aim to keep the structure of CA firms adaptive to the continuously evolving professional and regulatory landscape thereby enhancing their operational efficacy and global competitiveness.
These guidelines provide a framework for an LLP, Indian CA Firm to be a partner with another LLP, an Indian CA Firm. It would enable CA firms to tap the synergies of the combined strength and resources. It is envisaged that aggregation of LLPs should be worthy of facilitating greater coordination among the partner LLPs to deliver consistent quality in audit seamlessly across all locations on PAN India basis. This initiative supports the restructuring needs of Indian CA firms and also fosters a conducive environment for a long-term future.
Further, in exercise of the powers conferred by the section 15(2) (fa) of the Chartered Accountants Act 1949 as amended by the Chartered Accountants Act, the Cost and Work Accountants and the Company Secretaries (Amendment) Act (Amendment) Act, 2022 (No. 12 of 22), the Council of ICAI at its 432nd meeting held during 2nd & 3rd July 2024 has approved "ICAI (Aggregation of LLPs) Guidelines, 2024". These Guidelines are effective from the date of its notification.
Detailed Guidelines are hosted on ICAI portal and are accessible here
For any clarifications/query, members may reach to the CACAF or M&SS through e-mail at cacaf[at]icai[dot]in and fna[at]icai[dot]in;
Members may take a note of above.
Secretary, ICAI
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