Monday, October 12
NEW DELHI: The Institute of Chartered Accountants of India (ICAI) has approved a crucial draft regulatory framework which will enable domestic chartered accountant firms to tie up with their global peers to set up shop in the country, said its president Charanjot Singh Nanda.The move is aimed at enabling local entities to gain scale, in sync with the Centre's vision of creating large home-grown accounting firms, he told ET.The framework would require local firms that are already affiliated with global accounting entities to register with the ICAI and undertake necessary compliances, said people aware of the details.The institute held talks with the corporate affairs ministry before finalising the draft, approved by its apex council on Monday, Nanda indicated. The draft will soon be put out
