ICAI Approves New Guidelines to Help Indian CA Firms Expand Globally

In an effort to boost the global tie-ups for the domestic Chartered Accountants firm, the Institute of Chartered Accountants of India (ICAI) has given its approval to a set of guidelines. These new guidelines are designed to enable the Indian CAs to advertise their work better.

The first set of guidelines, ICAI (Global Networking) Guidelines 2025, will help the Indian CA firms enter the global market and build a strong network outside India. These rules will enable the domestic firms to get into international collaborations and grant affiliations to overseas entities, helping them grow and compete globally. As per the ICAI’s President, CA Charanjot Singh Nanda, the guideline will also encourage the establishment of new management consultancy firms registered with the ICAI.

Another guideline is related to the revamping of the ICAI code of ethics. The Institute has proposed new rules on audit independence. One of the key changes is that the accountants will no longer be allowed to give non-audit services to the same listed companies in which they are already a statutory auditor. This will also reduce the scope for conflict of interest and will ensure audit independence. The New Code of Ethics also proposes new rules on other issues, including audit fees and sustainability assurance.

These new guidelines come as part of the government’s effort to help local Chartered Accountancy firms grow and become the next “Big Four”. These guidelines were approved by the ICAI top decision-making body after a two-day discussion, which ended on Thursday, the ICAI President shared.