ICAI releases Aggregation Guidelines 2024 for CA Firms to improve Professional Excellence

In a landmark decision aiming at improving the operational efficiency and worldwide competitiveness of Indian CA firms, the Institute of Chartered Accountants of India (ICAI) has formally issued the ICAI (Aggregation of LLPs) Guidelines, 2024.

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 allow CA firms to leverage the synergies of their combined power and resources. It is expected that the aggregation of LLPs will facilitate increased coordination among the partner LLPs in order to deliver consistent quality in audit effortlessly across all locations on a pan-India basis. This initiative addresses the restructuring demands of Indian accounting businesses while also creating a favourable environment for a long-term future.

Furthermore, in exercise of the powers conferred by 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 on July 2nd and 3rd, 2024, approved “ICAI (Aggregation of LLPs) Guidelines, 2024”.

These Guidelines are effective from the date of its notification.

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;

For Detailed Guidelines Download PDF Given Below: