Advertising guidelines for CAs under revision

A self-regulatory body, the Institute of Chartered Accountants of India (ICAI) had a dominant role in regulating accountants and auditors until the National Financial Reporting Authority (NFRA) was established.

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With the government now pushing to build "India's own Big Four firms", the ICAI is stepping up its efforts to support this vision.

In an interview with Manu Kaushik, ICAI president Charanjot Singh Nanda discusses the ongoing regulatory reforms, the need to scale up Indian audit firms, and the proposed revisions to advertising guidelines for chartered accountants. Excerpts:

What kind of regulatory interventions are being planned by the ICAI to enable Indian CA firms to grow and compete with the Big Four?

We are positioning CA firms to evolve into credible and independent institutions. We're spearheading structural and strategic reforms to strengthen the professional ecosystem. The ICAI (Merger & Demerger of CA Firms) Guidelines mark a significant milestone in this direction—introducing provisions such as legal heir nomination for succession planning, thereby fostering continuity and long-term vision within firms.