Regulators must bring in more clarity on what defines an “Indian” audit firm and an “international” outfit, Vishesh C Chandiok, chief executive officer of Grant Thornton Bharat, told Business Standard in an interview on Monday.

Indian agencies, including the National Financial Reporting Authority (NFRA), have been pushing for more and bigger homegrown audit firms to compete with global giants. To support them, the NFRA also announced setting up a regulatory sandbox for innovation in auditing techniques.

 

Chandiok said GT Bharat’s long-term strategy had been to become an Indian audit firm that could compete with global giants. But it would need acknowledgement