Indian chartered accountants based in UK to benefit as pact with ICAEW renewed

ICAI has renewed qualification reciprocity agreement with the London-based ICAEW that increases the mobility of chartered accountant professionals.Institute of Chartered Accountants of India (ICAI), the apex body for chartered accountants (CAs), has renewed qualification reciprocity agreement with the Institute of Chartered Accountants in England and Wales (ICAEW) in order to increase the mobility of professionals.

The release by ICAI reads, “The pact demonstrates the strengthening ties and commitment of ICAI and ICAEW to work even more closely and build a world of strong economies with the best professional skills.”

According to ICAI President Prafulla P Chhajed, "The renewed pact would help in increasing the professional avenues for Indian professionals by facilitating recognition of Indian accounting professionals with local accountancy qualification in the UK in addition to the present ICAI qualification."

"It is befitting that this MoU is being signed on Gandhi Jayanti, the birthday of Mahatma Gandhi who united India. We are uniting to give our members greater opportunities in each other's countries," he added.

According to ICAEW President Fiona Wilkinson, "Accountants and auditors play an important role in delivering business confidence, which is crucial for the continuing growth of economies and financial markets worldwide."