Key takeaways
- Big 4 or large networks fit large, multi-country or IPO-linked deals, or where a lender requires them.
- Partner-led CA firms often fit partner, supplier and mid-size deals — faster, focused, fixed fee.
- Ask who does the work, what's in scope, whether they visit, and for a sample report.
Which fits, by type of deal
| Situation | Big 4 / large network | Smaller CA-led firm |
|---|---|---|
| Large acquisition or IPO-linked deal | Usually a Big 4 or large network — lenders, boards and auditors often expect it | Can support as a second opinion or on specific workstreams |
| Multi-country deal with global reporting | Big 4 or large network, for one team across countries | Can handle the India workstream for a global lead adviser |
| Mid-size investment or JV in India | Possible, but fees and partner time may not fit the deal size | Often a good fit: partner-led, India-focused, faster to start |
| Distributor, supplier or agent checks | Rarely needed | A good fit: fixed scope, quick, with site visits |
| First check on an unknown Indian company | Not needed | A good fit: a fixed-fee company check |
When a Big 4 or large network is the right call
- Your lender, insurer, board or auditor requires a named large firm.
- The deal spans several countries and needs one coordinated team.
- The target is large or listed, with complex accounting, or the deal is linked to an IPO.
When a smaller, partner-led firm fits better
- The deal or contract is mid-size and you want the senior person doing the work, not just signing it.
- You need people on the ground fast — site visits, meetings with the promoter, checking local records.
- The scope is focused: a partner, distributor, supplier or a specific tax or FEMA question.
- You want a fixed fee and a plain-English report.
Questions to ask any adviser
- Who exactly will do the work, and who will I speak to?
- Have you checked companies in this sector and state before?
- What is in scope — and what is not (for example legal title, environmental, IT)?
- Will you visit the premises and meet management?
- What will the report look like? Ask for a sample — ours: sample report.
- Is the fee fixed, and what would change it? See what due diligence costs.
Where we fit
We are a Chartered Accountant-led team based in Ahmedabad, with offices in Mumbai, Bengaluru, Rajkot and Dubai. We do partner, supplier and mid-size investment due diligence for foreign companies, and work alongside your lawyers and, where needed, a larger firm. Start with an India Company Check (USD 249) or partner due diligence.
Sources
Frequently asked questions
Do I need a Big 4 firm for due diligence in India?
Not always. A Big 4 or large network makes sense for large or multi-country deals, IPO-linked transactions, or where lenders or boards require a named large firm. For partner, distributor and supplier checks and many mid-size investments, a partner-led Chartered Accountant firm in India can be faster and better matched to the deal.
What should I ask a due diligence firm in India?
Who will do the work, their experience in the sector and state, what is in and out of scope, whether they will visit the premises and meet management, what the report looks like, and whether the fee is fixed.
Can a smaller firm work alongside a Big 4 on a deal?
Yes. A local CA-led team can take a specific India workstream — such as site visits, FEMA history or tax exposures — while a large firm leads the overall deal.
Please note: this guide is general information based on the rules as they stood on the review date above. Regulations and RBI/CBDT procedures change often — please get advice on your specific facts before acting.