Mutual Recognition Agreement Icai
“ICAI and MICPA would reach an agreement to recognize the qualification of the other by using a special document module and defining the basis on which admission to membership can be granted to duly qualified members of the other body,” an official statement said. The mutual recognition agreement was approved by Shri Narendra Modi, who is also Minister of Trade Unions at the Institute of Chartered Accountant of India (ICAI) and the Malaysian Institute of Certified Public Accountants (MICPA) to join the Institute of Qualified CAs of both institutes, in order to join the other institute capable of pre-qualifying their account. There is an agreement between ICAI and MICPA to both recognize the level of students through certain modules and documents. In this month, the members of the Board, whether it is a profession, an ethical orientation, a final orientation, practical experience and a need of the ICAI, as well as MICPA, are mutually explained by the changes made to the data relating to their qualification and admission requirements, the continuing education policy (CPD) and the exceptions. The CA profession in India can be controlled by the Institute of Chartered Accounts of India (ICAI), a legal organization established under the Chartered Accountants Act, 1949, while the MICPA Malaysian Institute of Certified Public Accountants was established in 1965 with the Corporation Act in Malaysia. According to the communication, ICAI intends to establish bilateral cooperation with institutes in the Asia-Pacific region and therefore intends to sign a Memorandum of Understanding with MICPA. In addition, the firm has approved a Memorandum of Understanding (Memorandum of Understanding) between ICAI and the Certified Practising Accountants, Papua New Guinea (PPA), to cooperate in building capacity and strengthening the accounting, financial and audit knowledge base in Papua New Guinea. The Institute will work with CPA PNG in a variety of areas, including student exchange and faculty programs, and will offer short-term professional courses in accounting, finance and auditing in Papua New Guinea. In Asia-Pacific, ICAI will discover the relationship with all institutes in the region and will thereby intend to sign MoU with MICA. In the current globalized scenario, both administrative bodies have the opportunity to play a leading role in the defence of problems. The decision of these two institutions can create more opportunities for others. “The proposed decision should build confidence and help create a positive image for Indian listeners in Papua New Guinea. ICAI has more than 3,000 members in the Australasia-Oceania region, which includes its chapter on PNG,” another official statement said.
PTI RAM MKJ Read also: ICAI: Empanelment of CAs as Observers in CA Exam November 2020 This would allow qualified auditors from both institutions to join each other by obtaining appropriate credit for their existing accounting qualification.