ICAI, CPA Australia renew Mutual Recognition Agreement for five years to enhance global mobility of accountants

New Delhi, July 10(TNT): The Institute of Chartered Accountants of India (ICAI) and CPA Australia have renewed their Mutual Recognition Agreement (MRA) for a further period of five years, aimed at strengthening global opportunities and professional mobility for accountants.

The renewed agreement provides a framework for recognising the professional qualifications of eligible members of both organisations, enabling greater career opportunities across borders while ensuring adherence to high standards of competence, ethics and professional practice, the Institute said in a release here on Friday.

The extension agreement was signed at the ICAI headquarters in New Delhi in the presence of ICAI President CA Prasanna Kumar D, Vice-President CA Mangesh Kinare, Immediate Past President CA Charanjot Singh Nanda, Secretary CA (Dr.) Jai Kumar Batra, and a delegation from CPA Australia led by Chief Executive Officer Chris Freeland AM.

Speaking on the occasion, Prasanna Kumar said the renewal marked a significant milestone in the long-standing relationship between the two institutions and reflected their commitment towards advancing excellence, ethics and innovation in the global accountancy profession.

Chris Freeland AM acknowledged the contribution of Indian Chartered Accountants to the global accounting profession and said the renewed agreement would further strengthen collaboration in professional development, capacity building and international mobility.

Mangesh Kinare said ICAI chapters in Sydney, Melbourne, Brisbane and Adelaide work closely with CPA Australia through joint professional initiatives, technical programmes and knowledge-sharing activities, further deepening cooperation between the two organisations.

The signing ceremony was followed by an interactive session between the CPA Australia delegation and ICAI Central Council members, where discussions were held on emerging trends in accounting, technological transformation, sustainability reporting, capacity building and future collaboration opportunities.

ICAI, established under the Chartered Accountants Act, 1949, is the statutory body regulating the Chartered Accountancy profession in India and has over 15 lakh members and students.

CPA Australia, founded in 1886, represents more than 176,000 members across over 100 countries and regions.

TNT KS