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Jim Quigley Would Really Like It if the Big 4 Could Audit in India

Deloitte is hiring about 3,000 people in India as part of their hiring bonanza and global CEO Jim Quigley dug into his bag of boilerplate statements to express his excitement:

“India is an extremely important market for Deloitte. As…Opportunities in the new economic environment emerge in India, Deloitte with its focus on hiring, developing, and deploying the best talent in the region, will help clients capitalise on these new market initiatives,” Deloitte Global CEO Jim Quigley told reporters here.

Right. So nothing new there. However, Quigs thinks that it’d be really swell if TPTB in India would change their mind about letting the Big 4 provide audit services there:

Quigley also made a case for India to open up its market and allow global audit firms to practice here, besides providing consulting and advisory assistance.

Allowing international accounting firms to practice here would require India to negotiate and allow the service to be accessed under the World Trade Organisation (WTO). At present, India has not opened up services like audit and law for foreign practitioners.

“I urge the Indian authorities to give a serious thought to allowing global audit firms to practice here. It is for the betterment of accounting professionals. A mutual recognition is required out of foreign direct investment,” Quigley said.

See? It’s not just about the biggest firm in the known universe getting bigger, it’s for the betterment for the entire accounting race. There’s so much fun to be had. The Satyams of the world are once in a blue moon.