New Delhi. The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the Memorandum of Understanding (MoU) between Institute of Cost Accountants of India (ICoAl) and the Association of Chartered Certified Accountants (ACCA), United Kingdom (UK).
The MoU will provide mutual advanced entry to the Members of both the Institutes through exemptions from appearing in majority of papers to acquire the qualification of the other Professional Body and to undertake joint research, continuing professional development activities, an official release said.
This MoU will lead to a focus attention towards exchange of knowledge and exchange of research and publications which will strengthen good governance practice in both jurisdictions.
Both parties will initiate joint research relevant to Cost Accountancy profession which could involve collaborative research in technical areas. This MoU will facilitate the movement of professionals in both jurisdictions and will enhance the employability of Cost Accountants in India and abroad.