Charanjot Singh Nanda, President of the Institute of Chartered Accountants of India (ICAI), emphasized the importance of building a robust foundation for Indian Chartered Accountants before venturing into global competition with the Big Four accounting firms. He pointed out that establishing strong fundamentals in terms of skill, knowledge, and ethical practices is essential for Indian CA firms to effectively compete on the international stage.

Nanda stressed that while the ambition to challenge the dominance of leading global accounting firms is commendable, it requires a strategic approach involving capacity building and adherence to high-quality standards. The ICAI is actively working towards aligning its members to meet global benchmarks, ensuring they are well equipped to leverage international opportunities.

This approach dovetails with broader government initiatives aimed at fostering home-grown Indian firms to grow and expand globally. By strengthening the internal framework, Indian CAs can enhance their credibility and performance, positioning themselves as formidable players in the global audit and consulting market.

Overall, the ICAI President’s message highlights that a strong, well-prepared foundation is the cornerstone for Indian Chartered Accountants aiming to make a significant impact on the worldwide accounting landscape amidst stiff competition from the Big Four.