In a move aimed at supporting the government’s vision of creating a domestic Big Four-type firm, the Institute of Chartered Accountants of India (ICAI) has proposed significant changes in its Code of Ethics, including new norms for advertising, fees as well as revisions in the definition of public interest entities.

The ICAI has issued an exposure draft on its Code of Ethics and has sought comments by November 26. “…the 12th edition of the ICAI Code of Ethics was issued with effect from July 1, 2020. Due to changes then, revisions have been proposed in the Code of Ethics,” it said.

One of the key changes proposed by the draft is to enable practising Chartered Accountants to form partnerships with other professionals under insolvency professional entities (IPEs) and resolution vehicle ent

See Full Page