Chartered accountants’ apex body ICAI has approved new global networking guidelines as well as changes to advertising guidelines, a significant move that will help create large homegrown domestic chartered accountant firms and compete at the global level. The ICAI Central Council, during its meeting held on December 10 and 11 in the national capital, approved the ICAI (Global Networking) Guidelines, 2025 and changes to the Code of Ethics under which advertising norms are being eased.
At a briefing in the national capital on Thursday, ICAI (Institute of Chartered Accountants of India) President Charanjot Singh Nanda said the Council has cleared the global networking guidelines, which have been a long-pending demand of CAs. The revised Code of Ethics, which also provides for limited advertisements, will help Indian firms to compete globally, he added.The approvals assume significance against the backdrop of larger Government efforts to have homegrown big accounting firms that can help create more opportunities in the country’s growing economy and also compete at the scale of global players.
The guidelines have been formulated with the objective of facilitating global networking opportunities for Indian Chartered Accountant (CA) firms, domestic networks of CA firms and management consultancy services companies registered with ICAI. According to the institute, the aim is to have a structured, transparent and legally-compliant framework to formalise international affiliations and also enable domestic networks of Indian CA firms to grant affiliations to overseas entities across jurisdictions.
Nanda said the intent of these guidelines is to help create an enabling environment where small and medium CA firms can also participate meaningfully in global collaborations on a level playing field. “By providing this framework for networking and affiliation, the Guidelines empower Indian firms to benefit from shared knowledge, specialised expertise, advanced tools and technology and collective reputation advantages, among others within global networks,” ICAI said in a note.
Under the Code of Ethics, the changes in the guidelines for advertisement and website are aimed at enhancing accessibility and professional visibility in line with contemporary practices. They include more flexibility of content, advertisement through contemporary form in write-up, enabling websites for network firms and changes intended to enhance the visibility of firms and facilitate the dissemination of information through digital platforms, Nanda said.
The revised Code of Ethics will be applicable from April 1, 2026, while the provision enabling the members or firms to engage in assessment and evaluation of social impact, CSR impact, business responsibility and sustainability reporting and the like will come into force from December 11. Among other aspects, the definition of ‘management consultancy and other services’ under the Chartered Accountants Act will be expanded to include services such as forensic accounting, research analyst, social impact assessment and evaluation and artificial intelligence.
Other changes include the revised provisions relating to Non-Assurance Services (NAS) for audit clients introduce enhancements to the independence standards. “The new independence provisions, like non-acceptance of audit of PIE where non-assurance service of the same entity was done prior, etc., have been included,” ICAI said. Also, the applicability of provisions of ‘Responding to Non-Compliance with Laws and Regulations’ (NOCLAR) during the course of audit engagements of listed entities has been extended to all listed entities and their material subsidiaries.
