Australia – India agreement heralds new era of cooperation
Australia's largest accounting body, CPA Australia, and India's premier statutory body for the regulation of the profession, the Institute of Chartered Accountants in India (ICAI), have entered a new era of cooperation and collaboration through a renewed Mutual Recognition Agreement (MRA).
Building on the already close relationship between the two organisations, the new agreement, signed by CPA Australia chief executive, Alex Malley, and ICAI President, Kumar Raghu, will enable eligible members of the ICAI to have enhance their qualifications by obtaining the globally recognised CPA Australia designation, and vice versa.
Mr Malley and Mr Raghu said the agreement, formalised at a ceremony coinciding with the 3rd Annual International Conference “Australia India: Changing Perspective” organised by the Australian Chapter of the ICAI, was further evidence of the deepening relations not only between the two bodies but also the two countries.
ICAI president, Mr Raghu, said the agreement was a win for his organisation's 230,000 members.
"Partnering with CPA Australia in this way is very important for ICAI and our members.
"Trade, economic and cultural ties between India and Australia are stronger than ever before and this agreement will create real opportunities for our members."
Mr Malley said he was very pleased to be renewing the agreement, on behalf of CPA Australia.
"This is about expanding collaboration with ICAI, creating a mechanism for our respective members to apply their expertise in critical global markets.
"The CPA designation is globally recognised as a hallmark of strategic and professional excellence and our members are heard and recognised is 121 countries around the world. This MRA further expands our global reach and relevance in an increasingly globalised world."
The signing ceremony was witnessed by New South Wales Finance and Services Minister Hon. Dominic Perrottet MP, Charles Cassucelli MP, ICAI Chairperson Yujita Chaudhri and ICAI Chief Mentor Yateender Gupta and around 125 delegates and participants from Sydney and representatives of centers in Perth, Adelaide and Canberra centers and Singapore and Abu Dhabi Chapters.
The Institute of Chartered Accountants of India (ICAI) is a statutory body for the regulation of the profession of Chartered Accountants in India. During its 64 years of existence, ICAI has achieved recognition as a premier accounting body not only in the country but also globally, for its contribution in the fields of education, professional development, maintenance of high accounting, auditing and ethical standards.
CPA Australia is one of the world's largest accounting bodies with a membership of more than 150,000 finance, accounting and business professionals.
Core services include education, training, technical support and advocacy. Employees and members work together with local and international bodies to represent the views and concerns of the profession to governments, regulators, industries, academia and the general public.
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