<h1>ICAI Disciplines Auditors in Satyam Scandal, Foreign CA Firms' Regulation in India Under Review.</h1> The Indian Chartered Accountant firms are regulated by the Institute of Chartered Accountants of India (ICAI) under the Chartered Accountants Act, 1949. Both Indian and foreign CA firms must register with the ICAI to operate in audit/assurance services in India. Multinational Accounting Firms may work in India through registered Indian Audit Firms. Disciplinary action has been taken against auditors of Satyam Computer Services Limited, with several members permanently removed from the ICAI register and fined. Further disciplinary decisions are pending for other involved members. The regulation of foreign CA firms in India is under scrutiny.