Cabinet approves MoU between ICAI & Institute of IPAR

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Last Updated28/08/2021

Cabinet has approved the Memorandum of Understanding (MoU) between Institute of Chartered Accountants of India (ICAI) and Institute of Professional Accountants of Russia (IPAR).
This will aid mutual cooperation in professional accounting training, technical research, professional ethics, advancement of accounting knowledge etc.
It also aim to encourage bilateral collaboration between both countries to promote the profession globally.

Members of the ICAI have middle to top-level positions in a variety of organisations throughout the world, and can influence the decision and policy-making methods of their respective countries organisations.
ICAI, with its vast network of Chapters and Representative Offices in 68 cities across 45 countries, is committed to playing a key role in sharing best practises in their respective countries.
This will help Government to adopt the best practises in order to attract foreign investment and encourage companies to set up shop in India.
Ministry of Corporate Affairs, the Institute of Chartered Accountants of India, and the Institute of Professional Accountants of India will all profit from this agreement.

The MoU is expected to give ICAI Members a boost in their quest for professional opportunities in Russia in short to long term future.
The goal of the MoU is to collaborate in order to build a mutually beneficial relationship that benefits both ICAI members and the two organisations.
The ICAI will be able to help deepen the partnership with Russia by providing Export of Accountancy Services under the terms of the MoU.

The Institute of Professional Accountants of Russia (IPAR) is the largest not-for-profit accounting organisation of Russia.
IPAR was founded in the year 1997 under the auspices of the Ministry of Finance of the country to carry out the government’s policy of accounting reform and to bring together members of the profession.

The Institute of Chartered Accountants of India is a statutory body which was established under the Chartered Accountants Act, 1949 to regulate the profession of Chartered Accountants in the country.
ICAI has made significant contributions to the advancement of the globally recognised profession of chartered accountants via education, professional growth, and the maintenance of high accounting, auditing, and ethical standards.