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ICAI sets up committee to examine MNC audit firms operations

Press Trust of India  |  Mumbai 

The Institute of Chartered Accountants of India (ICAI) has set up a eight-member committee to study the current operating structure of multi-national audit firms present in the country.

The committee is being headed by

As per the present regulation, no foreign audit firm is allowed to practise in the country. They can operate through network partners only.

"We will be examining the operations of these multinational accounting firms and what kind of arrangements they have with their network partners. Based on that, we will come out with the report," Chhajed said today.

The committee will send its findings to the central council of

"If the council feels there are any issues then it will raise it with the government," he said.

ICAI's central council consists of 32 members from and eight government nominees.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, April 12 2018. 19:40 IST