The government today approved a pact between Institute of Chartered Accountants of India (ICAI) and Chartered Professional Accountants (CPA), Canada. The Union Cabinet chaired by Prime Minister gave ex-post facto approval of the MoU signed in 2011 and approval for signing of MoU between ICAI, India and CPA, Canada, according to an official statement.
"The MoU also includes further collaboration on the definition, learning, and evaluation of the professional qualities and skills and competencies of entry-level Chartered Accountants," the statement said.
The pact intends arrangements for reciprocal membership that will apply to the respective members of both the Institutes ( ICAI and CPA) subject to specified criteria, it added.
According to the statement, it will provide an opportunity to the ICAI members to expand their professional horizon and simultaneously ICAI will become an entity to aid strengthen brand building of local nations and fostering strong relations between the ICAI and CPA Canada.
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