Cabinet approves MoU between ICAI, Chartered Accountants Australia and New Zealand

The cabinet chaired by Prime Minister Narendra Modi on Tuesday has approved a fresh Memorandum of Understanding (MoU) between the Institute of Chartered Accountants of India (ICAI) and Chartered Accountants Australia and New Zealand (CA ANZ).

The move will develop a mutually beneficial relationship between the two accountancy institutes and offer a globalized environment in order to address new challenges facing the profession. It is expected to provide an opportunity to the ICAI members to expand their professional horizons.

The engagement between the two Institutes is expected to result in greater employment opportunities for Indian chartered accountants and also greater remittances back to India.

The MoU provides for mutual recognition of qualification of members of other body, who have achieved membership by completing the Examination, professional program and practical experience membership requirements of the two parties.

( With inputs from ANI )