ICAI expects to finalise the international networking guidelines for Indian chartered accountant firms this fiscal, its President Ranjeet Kumar Agarwal said on Monday, as efforts continue to have big domestic CA firms that can compete globally.
Currently, there are no guidelines for international networking of Indian CA firms.
The Institute of Chartered Accountants of India (ICAI), which has more than four lakh members, is also working on ways as part of larger efforts to make the country a global accounting and auditing hub.
Agarwal said at a briefing in the national capital that the institute is working on the international networking guidelines as the target is to make Indian CA firms bigger and global.
With respect to aggregation of CA firms, the institute has charted out some strategies and steps have already been taken in this regard.
For instance, if two CA firms are merging, they were earlier not allowed to demerge after five years of the merger. The time period has been .