Institute of Cost Accountants of India signs MoU with Association of Chartered Certified Accountants (ACCA), UK
The MoU signed between the Institute of Cost Accountants of India (ICoAl) and the Association of Chartered Certified Accountants (ACCA), United Kingdom (UK) MoU will facilitate attention towards the exchange of knowledge and exchange of research and publications which will strengthen good governance practice in both jurisdictions.
Institute of Cost Accountants of India (ICoAl) has signed a Memorandum of Understanding (MoU) with the Association of Chartered Certified Accountants (ACCA), United Kingdom (UK) on July 8, 2021. The collaboration has been approved by the Union Cabinet, chaired by Prime Minister Shri Narendra Modi. In 1944, The Institute of Cost Accountants of India was first established as a registered company under the Companies Act with the objectives of promoting, regulating and developing the profession of cost accountancy. According to the official press release, the collaboration will “provide mutual advanced entry to the Members of both the Institutes through exemptions from appearing in the majority of papers to acquire the qualification of the other Professional Body and to undertake joint research, continuing professional development activities.”
The MoU signed between the Institute of Cost Accountants of India (ICoAl) and the Association of Chartered Certified Accountants (ACCA), United Kingdom (UK) MoU will facilitate attention towards the exchange of knowledge and exchange of research and publications which will strengthen good governance practice in both jurisdictions. “Both parties will initiate joint research relevant to Cost Accountancy profession which could involve collaborative research in technical areas. This MoU will facilitate the movement of professionals in both jurisdictions and will enhance the employability of Cost Accountants in India and abroad,” the notice reads.
It further adds, “This MoU will provide a pathway to enable members of one Institute to seek full membership status of other Institute by successfully passing the minimum number of subjects of professional level and to facilitate the movement of professionals in both jurisdictions.”
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