Foreign Opportunities For Chartered Accountants Increased In Last Three Years Due To ICAI’s Global MOUs

Foreign opportunities for Chartered Accountants (CA) have increased in the last three years due to Memorandum of Understandings (MoU) signed by the Institute of Chartered Accountancy of India (ICAI) with accountancy bodies in foreign countries, Tax Scan has reported.

For example, ICAI had renewed its MoU with the Institute of Chartered Accountants in England & Wales (ICAEW) to encourage Indian CAs to get recognised by ICAEW to enable them to explore professional opportunities in UK.

A number of Indian CAs hold top positions in the UK and the number is expected to increase due to the recognition provided by ICAEW.

ICAI has also signed MoUs with organisations in other nations including Ireland, Kenya, Tanzania, Bahrain and Saudi Arabia. Most of the MoUs deal with promoting the accountancy profession in these countries and also to develop a mutually beneficial partnership for CAs of the two nations.

The demand for Indian CAs is expected to increase in the Gulf countries thanks to the introduction of Value Added Tax (VAT).