PM Modi wants 4 Indian accounting firms in world’s Big 8 by 2022
Prime Minister Narendra Modi on Saturday called for the creation of four large Indian accounting firms that could form the ‘Big 8‘ of the world, even when he warned CAs against the misuse of his powerful firm.
He said that the signing of a public accountant is more powerful than even that of a prime minister and the government also believes in the accounts signed by them.
“Your signature carries immense faith, please do not break the trust that is placed in you.
Modi told the CA community while talking about older women and others who invest in mutual funds and other schemes based on their faith in the reports signed by the auditors.
Big 4 in India, Big 8 In Te World
Referring to the ‘Big 4’, a term used for the four largest audit firms in the world, the Prime Minister said that there are so many accounting firms in India, but none of them has managed to find a place among the best global players.
People talk about the 4 big accounting firms, unfortunately, there is no Indian firm there, by 2022, we have a Big 8, where 4 firms are Indian.
Modi said CAs also have an important role to play after the launch of GST and also in the context of the new insolvency and bankruptcy law.
He said that a new India is waiting and the ACs have a great responsibility as they form a key pillar of the Indian economy.
Modi also urged CAs to work to get their clients on the path of honesty, instead of helping them avoid paying taxes.