New rules for aggregation of domestic CA firms in three months: ICAI
The new guidelines for aggregation of domestic chartered accountant (CA) firms, to make them competitive with global firms like the Big Four, will be introduced in the next three months, Ranjeet Kumar Agarwal, president of The Institute of Chartered Accountants of India (ICAI) said on Wednesday.
In an interview with Business Standard, Agarwal said that some guidelines on aggregation exist but they are being revisited.
The new rules would, for the first time, include international networking guidelines for domestic firms that would allow them to collaborate with overseas companies.
“We have set a target that in the next two to three months, all guidelines will be framed, approved in the council and implemented,” he said.
Earlier this year, ICAI had set up a Committee for Aggregation of CA Firms (CACAF) to review and revise the existing guidelines. On Wednesday, Agarwal said that the new guidelines will include rules on mergers and demergers, multidisciplinary partnerships and advertisement of CAs.
