Business Standard

Opening doors to foreign auditors

The prospect is already disturbing the uneasy truce between local firms and the global accounting networks operating out of India

Sudipto Dey 

A turf battle is brewing between Indian audit companies and those owned by global audit and accounting networks, as the government pushes for opening up of accounting services. Small and mid-size chartered accountancy (CA) entities feel the most threatened by this move.

Questions are being raised on issues around reciprocity, visa restrictions and non-recognition of Indian audit certificates in other jurisdictions. CAs working with international audit agencies say the move will improve India's bargaining position in global markets on export of services. It started with a note sent ...

First Published: Sun, August 28 2016. 21:35 IST