New Delhi [India], April 20 (ANI): Cabinet chaired by Prime Minister Narendra Modi on Tuesday approved a new Memorandum of Understanding (MoU) between the Institute of Public Accountants of India (ICAI) and the Public Accountants of Australia and New Zealand (CA ANZ).
The measure will develop a mutually beneficial relationship between the two accounting institutes and will provide a globalized environment in order to meet the new challenges facing the profession. It is expected to provide an opportunity for ICAI members to broaden their professional horizons.
The compromise between the two institutes is expected to lead to greater employment opportunities for contracted accountants in India and also to higher remittances in India.
The Memorandum of Interest provides for the mutual recognition of the qualification of members of another body who have achieved membership by conducting the examination, the professional program and the membership requirements of the practical experience of both parties. (ANI)