Revisions to advertising standards for Certified Accountants (CAs) proposed by ICAI President Charanjot Singh Nanda

Revisions to advertising standards for Certified Accountants (CAs) proposed by ICAI President Charanjot Singh Nanda

News Article: ICAI Revises Advertising Guidelines for Chartered Accountants

The Institute of Chartered Accountants of India (ICAI) is proposing significant revisions to the advertising guidelines for Chartered Accountants (CAs), aiming to enable ethical, transparent advertising for CA firms to promote their advisory capabilities globally while safeguarding the profession's reputation and independence.

These reforms are part of a strategic move to help Indian CA firms compete on a global scale and evolve into credible, independent institutions akin to the Big Four audit firms. The proposed changes include lifting the long-standing ban on advertising by CAs, permitting CA firms to advertise and brand their services, and updating the advertising guidelines to be more contemporary.

Historically, the Chartered Accountants Act, 1949 prohibited all forms of direct promotion to protect the profession's dignity and independence. However, the new guidelines will allow controlled advertising and branding, particularly for non-assurance services like consulting, ESG, M&A, and financial transformation.

The reforms also aim to regulate advertising to avoid misleading promotions and protect auditor independence, but allow more freedom than the earlier highly restrictive framework where advertising, success fees, and commercial branding were disallowed or tightly controlled.

In addition to the advertising revisions, the ICAI is also focusing on other areas of reform. For instance, the ICAI has drafted guidelines for overseas networks to facilitate global collaboration and has introduced provisions such as legal heir nomination for succession planning in their guidelines for the merger & demerger of CA firms.

Moreover, the ICAI has notified guidelines for the aggregation of Limited Liability Partnerships (LLPs) to enable firm consolidation and promote collaborative practice. Under the guidelines for networking of Indian CA firms 2021, firms can collaborate through three distinct models: alliance model, network model, and lead firm model.

The ICAI is also positioning CA firms to evolve as credible and independent institutions. As part of this effort, the ICAI regularly conducts workshops, webinars, seminars, and certificate courses to enhance the knowledge and skills of CAs and other stakeholders in sustainability reporting and assurance.

It is worth noting that the Comptroller and Auditor General (CAG) does not outsource its audit responsibilities to private firms, but has empanelled CA firms to assist in the execution of audits of financial statements.

These reforms are part of broader efforts to encourage firm mergers, operational freedom, and possibly relaxing other restrictions to build competitively scaled Indian professional services firms. The ICAI has also submitted a memorandum of suggestions on the income tax Bill that includes conceptual and structural changes.

In conclusion, the ICAI's proposed revisions to the advertising guidelines for CAs mark a significant step towards modernising the profession and enabling Indian CA firms to compete globally while maintaining the highest standards of ethics and professionalism.

[1] ICAI Press Release, (2025). [Link] [2] ICAI Guidelines, (2021). [Link] [3] ICAI Committee Report, (2025). [Link] [4] ICAI Council Meeting Minutes, (2025). [Link]

1. The revised advertising guidelines by ICAI for Chartered Accountants (CAs) open up opportunities for their financial transformation, enabling them to compete globally in markets like DeFi and personal-finance.
2. The updates in advertising rules are not limited to business growth; they also promote education and self-development, with the ICAI offering workshops and certificate courses on sustainability reporting and assurance.
3. With these reforms, CA firms can tap into novel areas such as Mergers and Acquisitions (M&A) and ESG (Environmental, Social, and Governance) services, expanding their service portfolio in the finance and technology sectors.
4. As part of their strategy, the ICAI has introduced guidelines for Limited Liability Partnership (LLP) aggregation, fostering firm consolidation and promoting collaborative practices among CA firms.
5. Apart from advertising reforms, the ICAI has submitted suggestions for the Income Tax Bill, hoping to bring about structural changes that will further reshape the Indian finance and business landscape.

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