ICAI News – The Institute of Chartered Accountants of India (ICAI) has announced that it plans to amend the Code of Ethics to allow chartered-accountant firms to advertise and maintain their own websites.
Why is this change being considered?
At present, the Code of Ethics governing CAs in India does not permit firms or networks to advertise their services, or even have dedicated websites, under the existing regulations. ICAI President Charanjot Singh Nanda said an exposure draft of the changes will be out soon. The rationale includes supporting the growth of Indian professional service firms and aligning with global business practices since free‐trade agreements and global expansion are placing higher demands on Indian audit and advisory firms.
What will the amendments allow?
Under the proposed revision of the Code of Ethics:
- CA firms and networks will have the permission to create their own websites.
- Firms can advertise their professional services, subject to ethical boundaries.
- To implement these changes fully, the government may also need to amend the Chartered Accountants Act, 1949, since the Act currently bars CAs from soliciting professional work or advertising their services.
What does this mean for CA Firms & Professionals?
For CA firms, this change could open up new marketing channels, creating websites, publishing service portfolios, leveraging digital presence, & advertising in a regulated way. But for single practitioners & small firms, this could level the playing field as the branding barrier falls.
However, the amendments will still require some ethical safeguards i.e. advertising must not be misleading, overly promotional or compromise professional independence. Firms will need to align their digital presence with the revised Code of Ethics.
In conclusion, the announcement that “ICAI to Amend Code of Ethics” to permit advertising and websites is a landmark development for the CA profession in India. Firms will soon have more freedom to present themselves, but the change comes with responsibilities i.e. maintaining integrity, transparency and ethical standards. For professionals, it’s a time to prepare for a new era of visibility, branding and growth in the CA ecosystem.
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