Someswar Roy
Quick Summary
The Union Cabinet has approved signing of MoU between the Institute of Chartered Accountants of India (ICAI) and The Institute of Chartered Accountants in England Wales (ICAEW) which is surely to boost the morale of Indian Chartered Accountants. The Union Cabinet, chaired by the Honble Prime Min
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FAQ :
The MoU between ICAI and ICAEW is designed to recognise each other's qualifications and training, and to admit members in good standing by establishing a bridging mechanism.
The MoU is expected to provide numerous professional opportunities for Indian Chartered Accountants in the UK and for those seeking global professional experience there.
No, this is not the first understanding between the two institutes. Previously, a Direct Pathway scheme allowed ICAI members to study for ACA and receive credit for some modules.
ICAEW will grant membership to ICAI members who have held full membership for at least five years, have up-to-date CPE hours, and maintain a good disciplinary record. They must also be appropriately qualified through ICAI's education and training route.
ICAI members who obtained their membership through an advanced credit MoU or mutual recognition agreement with another professional body will not be eligible unless specifically approved by ICAEW.
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