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Cabinet approves ICAI's pact with UK's chartered accountant body, ICAEW

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Press Trust of India New Delhi
Last Updated : Mar 07 2019 | 10:35 PM IST

The government Thursday gave approval to the pact between the Institute of Chartered Accountants of India (ICAI) and the Institute of Chartered Accountants in England & Wales (ICAEW).

The Union Cabinet, chaired by Prime Minister Narendra Modi, gave ex-post facto approval of the memorandum of understanding signed in 2008 and renewed in 2014 between ICAI and ICAEW, said an official statement.

The pact will encourage more Indian chartered accountants to take up the recognition of ICAEW professional designation to further help them pursue professional opportunities in the UK, the statement added.

Besides, it will help in developing a mutually beneficial relationship in the best interest of members, students and their organisations.

The MoU apply to all qualified and experienced ICAEW and ICAl members irrespective of the syllabus they followed for their home body membership, the statement said.

The ICAI is a statutory body established by an Act of Parliament of India.

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First Published: Mar 07 2019 | 10:35 PM IST

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