Cabinet approves MoU between ICAI and CA Maldives

The Union Cabinet on Wednesday approved a Memorandum of Understanding (MoU) between the Institute of Chartered Accountants of India (ICAI) and the Chartered Accountants of the Maldives (CA Maldives).

The MoU aims to strengthen cooperation between ICAI and CA Maldives in the matters of accountancy profession through exchange of views, information in respect of professional accountancy training, professional ethics, among others, according to an offficial release.

As per the release, the MoU would be able to help strengthen the partnership with Maldives by providing the export of services in accountancy profession, ICAI members are holding 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.

In addition, it will also provide an opportunity to ICAI members to expand their professional horizon and to aid in strengthening the capacity building of local nationals.

Further, CA Maldives wants to become a member of International Federation of Accountants (IFAC) and ICAI will do technical due diligence for CA Maldives to make them a member of IFAC.