ICWA enters into MOU with IMA USA

The Institute of Cost and Works Accountants of India (ICWAI) entered into a Memorandum of Understanding (MOU) with the Institute of Management Accountants (IMA), USA here today. This will enable mutual recognition and cooperation between the two institutes to develop the profession of Management Accountancy for the benefit of their members and students in the pursuit of excellence in education and training and continuing professional development in Management Accountancy.

The MOU will enable recognition of the professional qualification of the respective Institutes. A member of ICWAI can get enrolled as a member of IMA USA and vice versa. However, an IMA member enrolling as a member of ICWAI will not be allowed to hold a certificate of practice to undertake any statutory work in India.

The MOU will bring mutual recognition and global cooperation between members of ICWAI and of IMA. IMA and ICWAI have a long history of working together on research and conferences and this agreement is the next step of a productive relationship.”

On this occasion, Mr. Kunal Banerjee, President ICWAI, said, “ ICWAI will enhance its global presence through this MOU and members of both the Institutes will immensely benefit from recognition of both certifications. The MOU will also help in applied research in areas of specific interest related to Management Accounting”.

The Institute of Cost and Works Accountants of India (ICWAI) has been established under an Act of the Parliament to regulate the profession of Cost and Management Accountancy in India. Over the years the Cost and Management Accountancy profession has registered a formidable growth and has come to occupy a prominent role in Indian economy and society. Today the Institute has more than 1,65,000 students and more than 42,000 qualified members spread all across the world. -------------