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Union Cabinet Approves Mutual Recognition Agreement Between ICAI and SAICA
Union Cabinet Approves Mutual Recognition Agreement Between ICAI and SAICA- Details, Purpose
The Union Cabinet chaired by Prime Minister Narendra Modi has approved the Mutual Recognition Agreement between the Institute of Chartered Accountants of India (ICAI) and The South African Institute of Chartered Accountants (SAICA) on 2nd May 2018.
The Agreement will help to establish a mutual co-operation framework for the advancement of accounting knowledge, professional and intellectual development, advancing the interests of their respective members and positively contributing to the development of the accounting profession in South Africa and India
The Agreement will facilitate recognition of Indian Accountancy Professionals with local Accountancy qualification in addition to existing ICAI qualification, which will increase their professional avenues in South African markets.
The Agreement will also foster strong working relations between the two accounting institutes and increase the mobility of professionals at either end and would herald a new dimension for small and medium businesses in both countries.
The Agreement will be strategically important for the ICAI to maintain a close relationship with SAICA which will significantly help the Institute to further the interests of its members and strengthen the ICAI brand in the region.
