The Union Cabinet on Wednesday approved renewal of the pact between Institute of Chartered Accountants of India (ICAI) and the Saudi Organisation for Certified Public Accountants (SOCPA).
The pact was signed in 2014, for mutual cooperation in the "accountancy profession".
The ICAI-SOCPA collaboration will also enable mutual exchanges in the areas of corporate governance, technical research and advice, quality assurance, forensic accounting, issues for Small and Medium Sized Practices (SMPs), Islamic Finance and Continuing Professional Development (CPD).
"The Memorandum of Understanding (MoU) will foster strong working relations between the ICAI and SOCPA, thus giving strong professional opportunities to chartered accountants in India and more confidence to employers in Eastern Province in Saudi Arabia," a statement said.
--IANS
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