Local CA firms seek relief in Big 4 push

NEED FOR CHANGE

- MANU KAUSHIK

DOMESTIC CHARTERED ACCOUNTANT (CA) firms are seeking relaxation of existing norms even as the government works toward Prime Minister Narendra Modi's vision of creating India's own "Big Four" advisory firms. The firms have raised concerns over current regulations under the Chartered Accountants Act, 1949, and the Code of Ethics, which they say are hindering their ability to scale. Key obstacles cited include capital constraints, a ban on advertising, and limited government support.