The Centre is contemplating amendments to the Chartered Accountants Act, 1949, to relax current restrictions on firm advertising, which are tightly regulated. Under the Act, firms could only advertise through limited “write-ups,” with restrictions on font size, photographs, and other elements.
The proposed amendment aims to help Chartered Accountants attract assignments, showcase expertise, expand their practice, and enable the emergence of large domestic firms capable of competing with global players and capturing a share of the $240-billion international auditing and consultancy market.
The ICAI plans to suggest these amendments to the Ministry of Corporate Affairs and consider revisions to the Code of Ethics for CAs and their firms.
