New Delhi: The Institute of Chartered Accountants of India (ICAI) and CPA Australia Ltd. have signed a Mutual Recognition Agreement (MRA) to recognize the qualification, training of each other and admit the members in good standing by prescribing a bridging mechanism.
President of ICAI, Mr. Ved Jain, said "The instant MRA with CPA Australia by ICAI is a step forward in increased mobility to professionals at either end and would herald a new dimension for businesses globally."
Mr. Jain further said, "It also puts the two accountancy professions from India and Australia on global radar to play the leadership role in addressing new challenges before profession."
"A landmark agreement between CPA Australia and ICAI highlights the increasingly global nature of the accounting profession", said Alex Malley, President of CPA Australia Ltd.
As per the MRA, members of ICAI who are graduates will be eligible for CPA Australia membership on passing one paper on Business Strategy and Leadership.
On the other hand, members of CPA Australia will be eligible for ICAI membership subject to passing two papers on Corporate & Allied Laws and Taxation and two more papers on Advanced Auditing & Professional Ethics and Financial Reporting, if they have not already passed them as a part of the CPA Australia programme.
The papers in respect of bridging mechanism as above would be administered locally by the two institutes. MRA is likely to herald an increased mobility of the professionals in either country.
"The MRA will open professional opportunities to our members in Australia and this will bring the two countries, India and Australia, closer", Jain added.
This MRA comes closer on the heels of an arrangement entered by ICAI with the Institute of Chartered Accountants of England and Wales in November 2008. source: http://indiaedunews.net
President of ICAI, Mr. Ved Jain, said "The instant MRA with CPA Australia by ICAI is a step forward in increased mobility to professionals at either end and would herald a new dimension for businesses globally."
Mr. Jain further said, "It also puts the two accountancy professions from India and Australia on global radar to play the leadership role in addressing new challenges before profession."
"A landmark agreement between CPA Australia and ICAI highlights the increasingly global nature of the accounting profession", said Alex Malley, President of CPA Australia Ltd.
As per the MRA, members of ICAI who are graduates will be eligible for CPA Australia membership on passing one paper on Business Strategy and Leadership.
On the other hand, members of CPA Australia will be eligible for ICAI membership subject to passing two papers on Corporate & Allied Laws and Taxation and two more papers on Advanced Auditing & Professional Ethics and Financial Reporting, if they have not already passed them as a part of the CPA Australia programme.
The papers in respect of bridging mechanism as above would be administered locally by the two institutes. MRA is likely to herald an increased mobility of the professionals in either country.
"The MRA will open professional opportunities to our members in Australia and this will bring the two countries, India and Australia, closer", Jain added.
This MRA comes closer on the heels of an arrangement entered by ICAI with the Institute of Chartered Accountants of England and Wales in November 2008. source: http://indiaedunews.net
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