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November 28, 2010

ICAI considers auditing market consolidation

Institute of Chartered Accountants of India (ICAI) is planning for capacity building and consolidating smaller Indian firms to enable greater competition with the Big Four, according to Indian media reports.

The ICAI is calling a meeting of bigger Indian accounting and auditing firms to discuss the possible consolidation strategy and is believed to have met with the Big Four to request they do not take over small Indian firms, to help enable competition.

The consolidation strategy is a part of the ICAI’s efforts to regulate the big international firms in India that are currently practicing under surrogate names.

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