Consulting, Not Audits: ICAI Explores New Funding Route for CA Firms
What Happened
ICAI is exploring allowing private equity investment in non-audit accounting and consulting businesses. An internal committee is examining global practices and regulatory frameworks to support growth in the profession.
Key Takeaways
The proposal would apply only to consulting and other non-assurance services, while audit practices would remain independent. If approved, PE funding could help firms expand, invest in technology and strengthen their competitiveness.