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.

Mutual recognition of professional qualifications enables bridging admissions and information exchange between Indian and UK accountancy bodies. Cabinet approval authorises a Memorandum of Understanding between the Institute of Chartered Accountants of India and the Institute of Chartered Accountants in England & Wales to establish mutual recognition of qualifications, a prescribed bridging mechanism for admission of members in good standing, and reciprocal notification of material changes to qualifying/admission requirements, exemptions and CPD policy, enabling cooperation on training and facilitating professional mobility.