CA Institute will, this year go all out to increase accounting profession’s global outreach and footprint so as to expand opportunities for its members, its new President Aniket Sunil Talati has said.

Towards this end, ICAI is now in talks for MoUs/MRAs (Mutual Recognition Agreements) with various accounting bodies across the world, Talati told businessline. 

Renewal of agreement

He highlighted that ICAI and the Institute of Chartered Accountants of England and Wales (ICAEW) will most likely, this April sign the renewal of qualification reciprocity agreement between the two professional bodies. The Union Cabinet had recently given its nod for the renewal of this agreement. 

Talati also said the Institute of Singapore Chartered Accountants (ISCA) has now recognised ICAI qualification as one of the professional qualifications for associate membership. “Chartered accountants from India who have been there for six months can now directly get associate membership at ISCA without appearing for any examination.

This is a suo moto recognition from ISCA, that acknowledges that ICAI course curriculum to be internationally relevant”, he added.

‘More collaboration’

Talati noted that subsequent to the ICAI hosting World Congress of Accountants (WCOA) in end November last year, there is now good recognition for ICAI course and institute’s activities. “We are pursuing MoUs/MRAs with other countries”, he added.

Building on the success of WCOA 2022, the ICAI will strive to forge more collaboration with international organisations in the accounting and related fields providing greater mobility and professional opportunities for Indian professionals, he added. “In the globalised era, it is essential to develop relations and collaborate with global accounting institutions to build professionals for the global economy”, Talati said.