ICAI weighs reserving Rs 5 crore consultancy tenders for smaller firms
In short
ICAI is working on a draft that could reserve government consulting contracts worth up to Rs 5 crore for small and mid-sized firms. The proposal also talks about letting registered network firms use joint credentials.
This matters because it could open more public work to smaller accounting firms. The report does not say when the draft will be final or whether the government will accept it.
What the reporting says
ICAI is working on draft proposals to reserve government consulting contracts worth up to Rs 5 crore for small and mid-sized firms, according to the report. The proposal also mentions joint credentials for registered network firms, and the aggregation of CA firms committee chairman and vice chairman met the DoE Secretary. The immediate consequence is that the draft could change access to public consulting work, but the final rules are not stated.
Why it matters
ICAI is preparing draft proposals that would reserve government consulting contracts of up to Rs 5 crore for small and mid-sized firms, with joint credentials for registered network firms also under discussion. The report says committee leaders met the DoE Secretary, showing the issue is being taken to government, but it does not state any final decision. If adopted, the change could reshape access to consulting tenders for smaller CA firms.