The proposed MoU aims to strengthen cooperation in matters of accountancy profession.
The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the signing Memorandum of Understanding (MoU) between Institute of Chartered Accountants of India (ICAI) and Institute of Professional Accountants of Russia (IPAR).
Approval for signing MoU between the ICAI the IPAR would help in establishing mutual cooperation in the areas of Professional Accountancy Training, Professional Ethics, Technical Research, Advancement of Accounting Knowledge, Professional and Intellectual Development, a statement from the government said.
The proposed MoU aims to strengthen cooperation in matters of accountancy profession through exchange of views, information in respect of Professional Accountancy Training, Professional Ethics, Technical Research, Professional Development of Accountants, it added.
The ICAI is a statutory body established under the Chartered Accountants Act, 1949 for the regulation of the profession of Chartered Accountants in India. ICAI has contributed immensely in the field of education, professional development, maintenance of high accounting, auditing and ethical standards in furtherance of the profession of Chartered accountants, which is recognized globally.
The IPAR is the largest non-profit association of accountants in Russia.