Cabinet approves signing of MoU between ICAI and Russia’s IPAR
The aim of MoU is to work together to develop a mutually beneficial relationship between the two respective organizations
Chaired by Prime Minister Narendra Modi, the Union Cabinet on Wednesday, approved the signing of Memorandum of Understanding (MoU) between Institute of Chartered Accountants of India (ICAI) and Institute of Professional Accountants of Russia (IPAR).
The MoU would help in establishing mutual cooperation in the areas of professional accountancy training, professional ethics, technical research, advancement of accounting knowledge, professional and intellectual development.
The MoU would also promote mutual cooperation through seminars, conferences and joint activities mutually beneficial to both the parties; and provide updates on the development of the accountancy profession in India and Russia to promote the profession in the world. The parties will also create a linkage to each other's websites as a means of information support.
ICAI members will get professional opportunities in Russia
The MoU is expected to provide ICAI members professional opportunities in Russia.The aim of MoU is to work together to develop a mutually beneficial relationship for the best interest of ICAI members and the two respective organizations. With MoU, ICAI would be able to help strengthen the partnership with Russia by providing the Export of Services in Accountancy profession.
ICAI members hold middle to top level positions in various organisations across the countries and can influence the decision/policy making strategies of respective organisations of a country.
ICAI through its vast network of Chapters and Representative Offices in 68 cities of 45 countries of the world is committed to play an important role by sharing the prevalent practices in their respective countries so that the Government of India can adopt the best practices being followed by them to attract foreign investment and to encourage them to establish their setup in India.