ICAI“International Initiatives”

By

CA V.C.James

Central Council MemberMember, Executive Committee

The Institute of Chartered Accountants of India

International Initiatives

Focus : To build up a brand usage of the profession in India to play an

active role on various International Forum

• ICAI being consulted by IAASB in Audit Standards Setting and by IASB in IFRS setting

• Playing a lead role in the area of Developing Nations, SMPs and SMEs, International Public Sector Accounting Standards, International Education Standards

• SAFA adopted ICAI curriculum as model• Student exchange programs held with ICAB,

ICAP, ICAN and ICASL

International Initiatives

• Opened an Office in Dubai• Introduced an E-Newsletter for ICAI members

abroad to bring the members close to the activities of ICAI.

• Invitation to Institutionalization of Profession in countries like UAE and Oman .

• Initiatives for recognition of ICAI qualification by accounting bodies in other countries

• ICAI has set up 21 Chapters Abroad. Opened New Chapters abroad- Oman, New York & Singapore

MOU with Accounting Bodies

ICAI has recently signed an MOU with

• The Institute of Chartered Accountants of England and Wales

• ISACA • The Institute of Chartered Accountants of Nepal• Ukrainian Federation of Professional Accountants

and Auditors• Mangolian Institute of Certified Public Accountants• CPA Australia• Further, an MOU with Republic of Djibouti for

Institutionalization of Accountancy Profession is also under active consideration.

MOU with Accounting Bodies

Bilateral talks for entering into MOU with

• Canadian Institute of Chartered Accountants

• Accountancy Bodies of : America, China, New Zealand, Israel, Italy, Turkey

ICAI-Mentorship Role

• Technical Support to accounting Bodies in SAARC region particularly, Afghanistan, Maldives and Bhutan have taken place and the process will be carried forward.

• Training for six months in Accountancy and English is being provided to the students from Djibouti.

• Periodic Training in English and IFRS also held for the accountants from Mongolia

ICAI allows training for Chartered Accountancy Course Outside India

• The Institute has allowed for the Chartered Accountancy Course with the members in practice , who have professional address in India, in his own charge or in charge of another member entitled to train CA students, even if they are partner in the local firm outside India.

• Training in the industry can also be imparted by members of the Institute working abroad in a financial, commercial or industrial undertaking

ICAI AT Doorstep for ICAI Members Abroad

• Online payment of fees/ other related membership services.

• Facility for imparting training to Articles under the Chartered Accountants Act and Regulations

• Post Qualification Courses for Members of the Institute

• Formation of Chapter/Liaison Point of ICAI• Facility of Journal by Air-Mail

Important Initiatives Undertaken to Align with Changing Education Scenario

• Online Common Proficiency Test Examination• Memorandum Of Understanding With Bharathiar

University, Coimbatore for pursuing B.COM, BBA, M.COM AND MBA by CA STUDENTS AND CAs with exemption in some papers

• MoU with Guru Jambheshwar University Of Science And Technology

• Uniform working Hours of Articled Assistants• Convocation Ceremony for Conferring the

Certificate of Membership