ICAI compliments Union Cabinet for Approving MoU with The South Africa Institute of Chartered Accountants (SAICA)

Sunday, May 27, 2018

The Union Cabinet chaired by Hon’ble Prime Minister Shri Narendra Modi has approved the Mutual Recognition Agreement between the Institute of Chartered Accountants of India (ICAI) and The South African Institute of Chartered Accountants (SAICA) to establish a mutual co-operation framework for the advancement of accounting knowledge, professional and intellectual development, advancing the interests of their respective members and positively contributing to the development of the accounting profession in South Africa and India.

Accountancy and Finance Services had been identified as one of the 12 Champion Sectors by Government of India wherein ICAI is taking all possible efforts for mutual recognition agreements with maximum foreign accounting institutes which is the first step for promotion of export of accountancy services in the overseas market.

The Signing of the Agreement between ICAI & SAICA would facilitate recognition of Indian Accountancy Professionals with local Accountancy qualification in addition to existing ICAI qualification, which will increase their professional avenues in South African markets.