Indian cabinet approves MoU between ICAI-CA Maldives

India’s Union Cabinet has greenlighted the signing of a Memorandum of Understanding (MoU) between the Institute of Chartered Accountants of India (ICAI) and the Institute of Chartered Accountants of the Maldives (CA Maldives).

The Union Cabinet, chaired by India’s Prime Minister Shri Narendra Modi, gave its approval for the MoU on Wednesday.

The MoU which will be executed between the ICAI and CA Maldives aims to establish mutual cooperation for the advancement of accounting knowledge, professional and intellectual development, advancing the interests of their respective members and positively contributing to the development of the accountancy profession of both nations.

It will provide an opportunity to strengthen cooperation between the two institutes with respect to accountancy field through the exchange of views, information in respect of professional accountancy training, professional ethics, technical research, and professional development of accountants. 

Furthermore, it targets to promote mutual cooperation through linkages to each other’s websites, seminars, conferences, student exchange programs and other mutually beneficial joint activities.

ICAI will also do the technical due diligence for CA Maldives in the latter’s endeavor to become a member of the International Federation of Accountants (IFAC), the global voice of the accountancy profession with more than 180 members in 135 countries.