ICAI Breaking: Council Recommends Members to Accept Audit Fees via Digital Modes only
In an effort to enhance the transparency and accountability in transactions, the
Institute of Chartered Accountants of India (ICAI) has recently recommended that members should accept audit fees only through banking or digital payment modes.
The ICAI council, in its recent 447th meeting, announced a set of revised guidelines, unlocking new growth opportunities for the domestic Indian Chartered Accountant Firms, especially the small and mid-sized ones. The Institute called the reforms a “game changer” to strengthen Domestic Indian Firms.
In the meeting, the ICAI approved the ICAI (Global Networking) Guidelines, 2025, to boost the global tie-ups of Indian firms with foreign firms. These guidelines will help the Indian CA firms to enter international partnerships without any legal confusion.
Further, the ICAI also made the decision to amend its Code of Ethics, which encourages the members to accept the audit fees only via digital payment modes or banking channels. This will improve the traceability and the transparency in the transactions.
