The Institute of Chartered Accountants of India (ICAI) is inviting public comments on proposed amendments to Regulation 204 of the Chartered Accountants Regulations, 1988. 

In a statement, the ICAI, said the Ministry of Corporate Affairs has “accorded its in-principle approval on draft amendments”. 

The amendment introduces “Forensic Investigation” as a recognised field under Regulation 204, expanding the scope of expertise for chartered accountants.  

Published in the Gazette of India on 26 June 2025, the draft regulations are open for feedback until 31 July 2025.  

The ICAI Council will review all comments before finalising the regulations, officially titled the Chartered Accountants (First Amendment) Regulations, 2025, which will take effect upon final publication in the Official Gazette. 

Specifically, the amendment modifies Regulation 204 by adding “and Forensic Investigation” after “Management and Business Finance” and removing the word “and” after “International Taxation.”  

In May 2025, the ICAI greenlit a new draft policy allowing Indian CA firms to form official partnerships with international accounting networks operating in India.  

The initiative seeks to enhance the global standing of domestic firms, supporting the government’s goal of nurturing Indian accounting firms with worldwide recognition. 

The draft provides detailed procedural rules for international collaborations, requiring Indian CA firms to register with the ICAI when entering such alliances.  

It also stipulates that firms appoint a senior partner as a compliance officer to adhere to ICAI regulations. 

Additionally, the policy requires firms to annually disclose details, including firm names, registration numbers, ownership structures, and financial statements.  

Earlier that month, ICAI partnered with the Securities and Exchange Board of India (SEBI) to tackle corporate fraud. 

The ICAI will collaborate with SEBI by preparing a research paper aimed at detecting and tackling financial fraud.