The Union Cabinet, chaired by the Hon’ble Prime Minister Shri Narendra Modi, has approved the signing of Memorandum of Understanding between the Institute of Chartered Accountants of India (ICAI) and The Institute of Chartered Accountants in England & Wales (ICAEW).
The MoU is to provide recognition of the qualification, training of each others members and admit the members in good standing by prescribing a bridging mechanism on the prevailing terms and conditions. The Parties to this MoU will provide each other with the information on material changes to their qualifying/admission requirements, CPD policy, exemptions and any other relevant matters.
ICAI collaboration with ICAEW will bring a lot of professional opportunities for Indian CAs in UK and also for Indian CAs who are looking for the global professinal opportunities in UK.