Brand Marketing
FMCG firms cut senior roles by 32%; Total headcount shrinks 9.26% in FY25
ICAI mulls new advertising framework for Chartered Accountants amid push to build ‘India’s Big Four’
In a bid to empower Indian CA firms to rival global giants, ICAI president Charanjot Singh Nanda confirms with media of its plans to revise outdated ad norms and strengthen the regulatory ecosystem
Updating the advertising guidelines is a key component of ICAI’s strategy to create a more level playing field for Indian audit firms, it was said.
The Institute of Chartered Accountants of India (ICAI) is working on a revised advertising framework for chartered accountants, as part of a broader reform agenda aimed at enabling Indian firms to compete with the global Big Four audit companies. ICAI president Charanjot Singh Nanda revealed this in an interview with The Financial Express, where he also outlined sweeping structural and strategic reforms underway in the profession.
Nanda said that updating the advertising guidelines is a key component of ICAI’s strategy to create a more level playing field for Indian audit firms that aspire to scale up and go global.
“We are looking at the advertising guidelines afresh, as we position CA firms to evolve into credible, independent institutions in their own right,” Nanda told FE. He added that the institute’s council has powers to formulate guidelines of advertisement for the members. The council had issued advertisement guidelines in 2008. Thus, the CAs and CA firms can already advertise as per the rules.
"Due to the recent developments in the profession, it is required to make the advertisement guidelines more contemporary. From this standpoint, the advertisement guidelines are under revision, which will be done through due process and will take care of not only the needs of the time but also the sensitivities which are involved. In July, we formed a group to look into this matter," he said.
The move comes as the ICAI intensifies efforts to support the emergence of large, homegrown firms that can challenge the dominance of the Big Four: Deloitte, PwC, EY, and KPMG.
The current framework for Chartered Accountants (CAs) in India, as per the ICAI, generally prohibits direct advertising to solicit clients. However, CAs are permitted to engage in certain forms of indirect marketing and promotional activities, particularly through digital means, while adhering to ethical guidelines and the Chartered Accountants Act, 1949.
The government has repeatedly voiced its ambition to see Indian audit firms grow to that stature, and ICAI is playing a pivotal role in shaping the ecosystem to make that happen.
Nanda also discussed recent regulatory interventions, including the landmark merger and demerger guidelines, which introduced concepts like legal heir nomination and succession planning. These, he noted, are critical for institutionalising firms and ensuring long-term continuity.
Read more: ASCI’s relaxed rules spark fee surge; 'qualified' health, finance influencers to charge 30% more
The proposed changes to the advertising policy are still in the consultation phase, but their eventual rollout could redefine how Indian CA firms present themselves in the market— both domestically and internationally.
Other reforms on ICAI’s agenda include building a robust global network of Indian firms, expanding sustainability audit frameworks in response to ESG demands, and actively contributing to reforms in income tax laws.
P&G Hygiene cuts ad spend by 55% to Rs 68.7 crore in Q1 FY26
Notably, P&G Hygiene's AdEx spending was also higher at Rs 121.16 crore during January-March period.