MCA-ICAI discuss roadmap for Indian Big4 firms - Finance Ppl

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 MCA-ICAI discuss roadmap for Indian Big4 firms

In an event hosted by ICAI  on 21 June 2024 in New Delhi,  ICAI held interactive session  with MCA Secretary Manoj Govil & MCA Joint Secretary Shri Inder Deep Singh Dhariwal regarding  ‘Aggregation of CA Firms’ and the roadmap to create big Indian firms.
Event involved deliberations with CA firm representatives in two sessions, on challenges that need to be worked on for Aggregation of Firms. 1st session  involving representatives from 40-42 Indian Firms having 8 or more partners and the 2nd session that had  representatives from 20-25 Indian Firms having 3 to 7 partners followed by Q&A session.

Previously on 21 May 2024,  in an event conducted by ICAI Bihar chapter, Finance Minister Nirmala Sitharaman urged the CAs to establish Indian Audit firms that eventually grows to feature among the Big 4s and seek  global clients. 

FM  expressed her concern to the gathering as to, why that in spite of having  large number of high quality CAs in India that are respected all over the world, our CAs become leaders and partners in Big 4 firms instead of forming a Big Four in India. 

FM asked the CA fraternity them to commit to this goal as part of their 100-day agenda for Viksit Bharat by 2047.

Quick Recall: It is to be noted that Prime Minister Narendra Modi during his address at the Chartered Accountants Day event in July 2017 — called for creating four big Indian accounting firms that are counted among the world’s Big 8.

Source: ICAI twitter page, CA Sanjay Agarwal's linkedn page and Business line e-newspaper.