Posted on 05/05/2018
The Institute of Chartered Accountants of India (ICAI) is now a recognized professional body in South Africa and it opened greater employment opportunities for the Indian Chartered Accountants in South Africa. The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the Mutual Recognition Agreement (MRA) between the ICAI and the South African Institute of Chartered Accountants (SAICA), which will aid the Indian accountancy professionals to explore employment opportunities in the region.
This MRA between the two accounting bodies of India and South Africa is to establish a mutual co-operation framework for the advancement of accounting knowledge, advancing the interests of their respective members, professional and intellectual development and positively contributing to the development of the accounting profession in both the countries i.e South Africa and India.
The MRA between ICAI and SAICA is likely to lead to greater employment opportunities for the Indian Chartered Accountants (CAs) in the region and also lead to greater remittances from them to India.