In an important change for the accounting profession, the Institute of Chartered Accountants of India (ICAI) and the Ministry of Corporate Affairs (MCA) are planning to make it easier for Chartered Accountants (CAs) and their firms to advertise their services. The government may soon amend the Chartered Accountants Act, 1949 to relax the existing restrictions on how CAs can promote their work.
At present, CAs can only advertise through limited “write-ups” and even those have strict rules such as limits on font size, use of photographs and content style. The new proposal aims to remove these barriers and allow professionals to present their work in a modern, transparent way. This change will also help Indian CA firms become more visible and grow into large, well-known firms that can compete with the Big Four (EY, Deloitte, KPMG, PwC) and other international networks in the $240-billion global audit and consultancy market.
ICAI President CA Charanjot Singh Nanda said that the institute is already working on revising its Code of Ethics and Advertisement Guidelines. He confirmed that the ICAI has shared its recommendations with the corporate affairs ministry and will soon release draft regulations for public comments. “We have identified the need for certain relaxations, such as in the use of technology, event galleries, font size, and presentation formats,” he told The Economic Times. “These guidelines, while ensuring ethics, will improve the visibility of firms and their services.”
The aim of this move is to help Indian CA firms grow faster, build stronger networks and simplify the compliance process. It will also make it easier for professionals to manage their practice by reducing regulatory hurdles and encouraging collaboration among firms.
For years, global networks have dominated India’s audit market due to the absence of large domestic firms. To change this, the ICAI has already taken several steps such as updating the Merger & Demerger of CA Firms Guidelines, 2024 and introducing the Aggregation of LLPs Guidelines, 2024. These steps are meant to help Indian firms work together, expand their reach, and form partnerships with global players while maintaining independence and professional standards.
Once implemented, the new advertising policy will bring more awareness to the variety of services CAs offer not just audits but also taxation, finance, corporate restructuring and consultancy. This change could mark a new chapter for Indian Chartered Accountants, giving them a fair chance to grow and compete globally.
Source : The Economic Times
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