An inter-ministerial group led by the Prime Minister’s Office (PMO) is reviewing India’s audit regulations with a view to relaxing them. In the two rounds of meetings held since August, the group has discussed possible changes in the advertising rules for CAs, lawyers, and amendments in the Companies Act to enable Indian audit and advisory firms to grow to the levels of the Big Four. Grant Thornton Bharat’s CEO Vishesh Chandiok talked about the progress of this initiative, and the regulatory changes required in an interview with Manu Kaushik, Edited excerpts:

What are the things that India must do to achieve the target of creating home-grown peers of the Big Four?

Vishesh Chandiok: For the first time, there is real momentum in this regard. It is not about enabling new small and medium en

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