New Delhi: Chartered accountants from the UK and Canada could be allowed to observe in India on a reciprocal foundation, with the apex physique ICAI making the proposal to the federal government.
ICAI President Ranjeet Kumar Agarwal on Wednesday stated the proposal will likely be carried out strictly on the reciprocal foundation that chartered accountants from India may even be allowed to observe in the UK and Canada.
It will likely be the primary time that an abroad chartered accountant will likely be allowed to observe in India.
The proposal is a part of India’s ongoing negotiations for Free Commerce Agreements (FTAs) with the UK and Canada.
Agarwal additionally stated {that a} comparable association is being regarded with Australia.
As soon as the reciprocal system is carried out, the chartered accountants from the international nations must be registered with the ICAI, which will likely be regulating them.
The Institute of Chartered Accountants of India (ICAI) has greater than 4 lakh members and eight.5 lakh college students.
At the moment, round 42,000 chartered accountants from India are working abroad.
“There’s a enormous demand for chartered accountants from India,” Agarwal, who took over because the President earlier this month, stated.
(Printed 21 February 2024, 08:19 IST)
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