🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥

Startup Showcase

Premium Content

Try our Valuation Calculator →

News on Medial

ICAI expects to finalise int’l networking guidelines for CA firms this fiscal

Livemint

Livemint · 8m ago

ICAI expects to finalise int’l networking guidelines for CA firms this fiscal

The Institute of Chartered Accountants of India (ICAI) is expected to finalize international networking guidelines for Indian chartered accountant firms this fiscal year. The aim is to make Indian CA firms bigger and enable them to compete globally. Currently, there are no guidelines for international networking of Indian CA firms. The ICAI is also working towards making India a global accounting and auditing hub. Efforts are being made to ease advertising and client solicitation norms for CAs, and changes to certain auditing standards are being communicated to the corporate affairs ministry.

1

Related News

CAG engaging CA firms will not compromise auditor's independence, says ICAI

Economic Times

Economic Times · 2m ago

CAG engaging CA firms will not compromise auditor's independence, says ICAI

The Institute of Chartered Accountants of India (ICAI) has addressed concerns regarding the Comptroller and Auditor General's (CAG) decision to engage CA firms for auditing central autonomous bodies. ICAI asserts that this move will not compromise the auditor's independence or constitutional role. Instead, it enhances audit quality and ensures effective coverage. Supported by professional standards and ethical safeguards, this strategy also boosts CAG's capacity for compliance and performance audits, countering objections raised by an MP to the President.

ICAI to limit individual tax audits by chartered accountants to 60 annually from 2026-27

Economic Times

Economic Times · 1m ago

ICAI to limit individual tax audits by chartered accountants to 60 annually from 2026-27

The Institute of Chartered Accountants of India (ICAI) will restrict chartered accountants to conducting a maximum of 60 tax audits annually from April 1, 2026. This rule applies both individually and as firm partners. The move aims to curb malpractices, with mechanisms like the Unique Document Identification Number (UDIN) enhancing accountability. ICAI's efforts also include expanding global outreach through proposed overseas networking guidelines, fostering larger, globally competitive domestic firms.

Big Four, other global firms push back against draft ICAI rules

Economic Times

Economic Times · 2m ago

Big Four, other global firms push back against draft ICAI rules

Top global professional services firms are contesting draft guidelines proposed by the Institute of Chartered Accountants of India (ICAI), which aim to regulate overseas networks involved in multi-disciplinary advisory services in India. The firms argue that the rules demand excessive disclosures, raising confidentiality concerns and operational complexity. Key issues include ambiguous terminology, extensive financial disclosure requirements, and perceived overreach of the ICAI. Critics argue that these guidelines could hinder global networks and smaller Indian firms, impacting their functionality and collaboration.

Atma Nirbhar Bharat step of Accounting firms - A Step towards building Bhartiya Global Consulting firm

Economic Times

Economic Times · 1m ago

Atma Nirbhar Bharat step of Accounting firms - A Step towards building Bhartiya Global Consulting firm

Three prominent Indian accounting firms, Kirtane & Pandit, SS Kothari Mehta & Co., and Guru & Jana, have formed an alliance to establish a Bhartiya global consulting presence. This collaboration aligns with the Indian government's "Atma Nirbhar Bharat" initiative, encouraging domestic firms to strengthen their presence. The Institute of Chartered Accountants of India (ICAI) has updated guidelines to support such alliances, aiming to enhance Indian firms' competitiveness internationally. This marks a significant step towards creating a unified Indian consulting entity.

Paytm Payments Bank halts int’l transactions on debit cards

Entrackr

Entrackr · 1y ago

Paytm Payments Bank halts int’l transactions on debit cards

Paytm Payments Bank has temporarily disabled international transactions on its debit cards. Customers will not be able to initiate international transactions until further notice. The reason for this move has not been disclosed. The announcement comes shortly after the Reserve Bank of India imposed a fine of INR 5.39 crore on Paytm Payments Bank for non-compliance with certain guidelines. The bank had previously faced regulatory action for "certain material supervisory concerns" and was restricted from onboarding new customers.

StartUp Sphere 2024 highlights ICAI’s impact on India’s economic growth, innovation; launches start-up and MSME yatra

Business Today

Business Today · 1y ago

StartUp Sphere 2024 highlights ICAI’s impact on India’s economic growth, innovation; launches start-up and MSME yatra

The Institute of Chartered Accountants of India (ICAI) launched StartUp Sphere 2024 in Bengaluru, aiming to connect start-ups with industry experts, investors, and influential partners. Supported by various organizations, including Startup India and MeitY Startup Hub, the event provided a platform for networking, discussing trends, and showcasing innovations. ICAI President Ranjeet Kumar Agarwal emphasized their commitment to supporting the start-up ecosystem with mentorship, capital access, and training programs. Additionally, ICAI inaugurated the ICAI MSME and Startup Yatra, which will travel to 100 cities to promote financial and tax literacy among MSMEs and start-ups.

Let's firm up for India's fab four - The Economic Times

Economic Times

Economic Times · 1m ago

Let's firm up for India's fab four - The Economic Times

India is considering reforms to strengthen its CA firms, allowing them to compete globally by addressing regulatory challenges. A government committee is exploring ways to increase cross-functional capacity, capital access, and branding. Reforms could include allowing multidisciplinary partnerships and enabling brand identity expansion. Such changes aim to create globally competitive Indian CA firms, potentially establishing them as part of a new global 'Big 8'. The efforts focus on equity, not just equality, in professional services.

ICAI bullish on GCC opportunities for chartered accountants

Economic Times

Economic Times · 1m ago

ICAI bullish on GCC opportunities for chartered accountants

The Institute of Chartered Accountants of India (ICAI) is optimistic about the increase in Global Capability Centres (GCCs) in India, anticipating a rise from over 1,700 to 5,000 in the next two years. ICAI President Charanjot Singh Nanda emphasized India's appeal as a destination for GCCs, which currently employ around 80,000 chartered accountants. ICAI is implementing upskilling initiatives to prepare its members for opportunities within GCCs.

Ride-hailing apps eye Goa entry as draft framework gets floated

YourStory

YourStory · 2m ago

Ride-hailing apps eye Goa entry as draft framework gets floated

The Goa Transport Department released draft guidelines allowing ride-hailing firms like Uber, Ola, and Rapido to operate in Goa using vehicles registered or permitted in the state. This aims to protect local businesses and jobs while requiring drivers to have a Public Vehicle Service Badge. The guidelines mandate paying government-notified fares to prevent fare manipulation. Industry leaders view this as a progressive step for employment, with the draft open for public feedback for 30 days.

Chartered accountants’ body clashes with govt authority over proposed audit reforms | Mint

Livemint

Livemint · 11m ago

Chartered accountants’ body clashes with govt authority over proposed audit reforms | Mint

The Institute of Chartered Accountants of India (ICAI) has called for a pause in the public consultation on reforming India's auditing standards. The ICAI believes that a contentious clause in the accounting standards has stood the test of time but acknowledges the need to strengthen the standards. The clause in question allows a parent company's auditor to rely on the work of a subsidiary's auditor without being held responsible for it. The National Financial Reporting Authority (NFRA) wants to fill this loophole, proposing that lead auditors of business groups be ultimately responsible for their consolidated financial statements. The ICAI has objected to NFRA's proposed changes, stating that it is not desirable for the auditor of a parent company to control the decisions of equally qualified subsidiaries' auditors.

Trackers

Active Indian VC’s

OG Capital Email

With a hands-on approach, OG Capital aims to invest in over 20 promising...

Accel Partners Email

Early and growth-stage investments in disruptive technology companies with...

Early-stage venture capital firm investing in technology startups in India. Focus on...

Access All Trackers

Startup Showcase Winners

June 2025

Helping your parents when you are miles away

The Pit Stop Your Cravings Deserve

The next generation E-commerce platform

Enter Ongoing Startup Showcase

Top Users

Trending News on Medial

Elon Musk’s xAI published hundred ...

Nikhil Kamath invests Rs 137.5 Cr ...

'Gaming apps designed in a way us ...

Download the medial app to read full posts, comements and news.