The CA Institute will sign a mutual recognition agreement (MRA) with the UK-based Association of International Accountants (AIA) in Chennai on Friday.
The MRA will enable home-grown chartered accountants to acquire an additional qualification without having to write any separate exams, according to Mr G. Ramaswamy, President of the Institute of Chartered Accountants of India (ICAI).
Indian CAs, however will not get any practising rights, in the UK by virtue of this agreement.
AIA was founded in the UK in 1928 as a professional accountancy body. From conception, it has promoted the concept of ‘international accounting’ to create a global network of accountants in over 85 countries worldwide. AIA is recognised by the UK Government as a recognised qualifying body for statutory auditors under the Companies Act 2006.
Meanwhile, Mr Ramaswamy said that the planned MRA with New Zealand Institute of Chartered Accountants could be a reality in the next one month.
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