The Institute of Chartered Accountants of India (ICAI) has inked an MoU with and Indian Association of Gold Excellence and Standards (IAGES) to implement a robust accreditation framework for value chain partners in the gold industry, which currently comprises an estimated six lakh partners across India.
A Memorandum of Understanding (MoU) was exchanged between CA. Charanjot Singh Nanda, President, ICAI and Shri Kaushlendra Sinha, Chief Executive Officer, IAGES in the august presence of Shri Arjun Ram Meghwal, Hon'ble Minister of Law and Justice. Also present were CA. Prasanna Kumar D, Vice President, ICAI; CA. Mangesh P. Kinare, Chairman, PDC; CA. (Dr.) Sanjeev Kumar Singhal, Central Council Member, ICAI; CA. Jai Kumar Batra, Secretary, ICAI.
On this occasion, Shri Arjun Ram Meghwal, Hon'ble Minister of Law and Justice, commended the collaborative efforts and underscored the importance of standardization and excellence within the gold industry. He remarked, "The vision for gold standardization in India was first conceived by Babasaheb Dr. B.R. Ambedkar, who strongly advocated for a structured and regulated framework for gold. This collaboration marks a significant step toward realizing that vision and will contribute to the accelerated growth of the Indian economy".
On the collaboration, CA. Charanjot Singh Nanda, President, ICAI, said, "The MoU represents a significant step forward in aligning industry standards with global best practices and demonstrates ICAI's commitment to contributing to nation-building through knowledge, standards, and ethics. It will facilitate a comprehensive and objective evaluation based on well-defined parameters and will also introduce a code of conduct applicable to them".
This initiative is expected to create meaningful professional opportunities for members of the ICAI and contribute significantly to improving governance and standardization of processes within the gold industry. CA. (Dr.) Sanjeev Kumar Singhal, Central Council Member, ICAI, has commendably contributed to advancing this significant collaboration between ICAI and IAGES.
The Professional Development Committee will create awareness amongst its Members about the MOU and the opportunities that it provides to them and shall supply a panel of Chartered Accountant firms to IAGES as per their requirement to empanel them for undertaking the work arising out of this MOU. CA. (Dr.) Sanjeev Kumar Singhal, Central Council Member, ICAI, has commendably contributed to advancing this significant collaboration between ICAI and IAGES.
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