Cabinet Approves ICAI's Pact with UK's Chartered Accountant Body, ICAEW

New Delhi, Mar 7 (PTI) The government Thursday gave approval to the pact between the Institute of Chartered Accountants of India (ICAI) and the Institute of Chartered Accountants in England & Wales (ICAEW).

The Union Cabinet, chaired by Prime Minister Narendra Modi, gave ex-post facto approval of the memorandum of understanding signed in 2008 and renewed in 2014 between ICAI and ICAEW, said an official statement.

The pact will encourage more Indian chartered accountants to take up the recognition of ICAEW professional designation to further help them pursue professional opportunities in the UK, the statement added.

Besides, it will help in developing a mutually beneficial relationship in the best interest of members, students and their organisations.

The MoU apply to all qualified and experienced ICAEW and ICAl members irrespective of the syllabus they followed for their home body membership, the statement said.

The ICAI is a statutory body established by an Act of Parliament of India.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)