What's Happening?
Mid-sized Chartered Accountancy firms in India are employing over 20% of the country's audit workforce, according to recent data from the Institute of Chartered Accountants of India (ICAI). These firms,
despite representing only 2.1% of all registered CA firms, handle complex audits and advisory work, leveraging their scale to serve larger clients efficiently.
Why It's Important?
The concentration of audit professionals in mid-sized firms reflects a shift towards more structured and scalable entities capable of handling complex mandates. This trend indicates a potential rise of India's own 'Desi Big 4,' challenging the dominance of global firms and enhancing the quality of audit services in the country.
