THE INTERNATIONAL NETWORKING guidelines being worked upon by the Institute of Chartered Accountants of India (ICAI) are restrictive, two partners at Big Five audit firms told FE. Recently, the ICAI president Ranjeet Kumar Agarwal said that the final guidelines, which will define the engagement rules between Indian CA firms and global firms, will come out in the current financial year.
"The draft guidelines that we have received from the institute have many restrictions, which might not enable Indian CA firms to scale up and compete with global audit firms as the institute has envisaged," said a senior partner at Big Five firm, on condition of anonymity.
This story is from the January 01, 2025 edition of Financial Express Bengaluru.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the January 01, 2025 edition of Financial Express Bengaluru.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
RBI Should Ease Its Tight Grip on Rupee, Says Viral Acharya
FORMER RESERVE BANK of India deputy governor Viral Acharya said the central bank should ease its tight grip on the rupee, a view that comes amid uncertainties over whether the new governor will maintain his predecessor's policy of limiting currency swings.
Rupee at lifetime low as equities slide; tilt bearish
THE RUPEE DECLINED 4 paise to settle at a record low of 85.83 against the dollar on Monday, amid a steep fall in domestic equity markets and unabated outflow of foreign capital.
Bank shares plunge up to 8% amid weak business updates
Historically, the third quarter is not a great one for banks
PSBs' share in 'fair value' investments declines, private banks report gains
STATE-OWNED BANKS' SHARE in the 'fair value through profit and loss investment portfolio' (FVPTL), the newly-introduced investment category, has gone down to 37.2% from around 45%. Meanwhile, the share of private banks has risen to nearly one-third, according to the Reserve Bank of India's (RBI) latest Financial Stability Report.
D2C firm Frido set to be ₹200-cr brand
ARCATRON MOBILITY'S DIRECT-TO-CONSUMER (D2C) arm Frido is on track to become a ₹200-crore brand.
Former executives at OYO, upGrad launch mobility platform
MAYANK KUMAR, FORMER CEO of upGrad, and Ayush Mathur, a former senior leader at OYO, have launched a new mobility platform for blue-collar workers called BorderPlus.
Adani Group lines up petchem foray
Adani Petrochem and Thailand's Indorama will hold 50% stake each in the JV
RIL arm launches Raskik Gluco Energy drink, adding fizz to hydration market
● Beverage to rival Tata Consumer, Dabur products
Auto ancillary firms aim US push with Trump's policies
INDIAN AUTOMOTIVE PARTS manufacturers are aiming to boost their share of exports to the US, driven by expectations that president-elect Donald Trump will fulfil his campaign promises upon taking office later this month.
Sterlite Grid 32 gets over ₹2,400 cr via listed NCDs
Sterlite Grid 32 (SGL32) on Monday announced securing ₹2,450 crore through listed non-convertible debentures (NCDs) to refinance its Mumbai Urja Marg project, Raji George, director, corporate finance, Sterlite Power told FE.
