The
Institute of Chartered Accountants of India (ICAI) is all set to widen
opportunities for its 2.50
lakh members (CAs) by joining a global body
of chartered accountants on Tuesday.
The ICAI is the fourth body of accounting professionals to join the
6.15 lakh-strong Chartered Accountants Worldwide (CAW) as an associate
member.
Joining the global body of professional accountants will give ICAI
members wider access to network with their counterparts worldwide, in
addition to professional development, reported
Channel News Asia, citing a joint statement by the ICAI and Institute of Singapore Chartered Accountants (ISCA).
"I am delighted to see ICAI join the Chartered Accountants Worldwide
family. We look forward to working with ICAI on developing the
profession and enhancing the value to our members," the channel quoted
Pat Costello, Chairman of Chartered Accountants Worldwide, as saying.
The membership is poised to boost the profile of CAs in the larger Asian region.
"With ICAI now part of the Chartered Accountants Worldwide family, we
believe there will be increased opportunities to enhance the value of
the Chartered Accountant designation and offer greater support for
Chartered Accountants in the Asia Pacific region," Lee Fook Chiew, Chief
Executive Officer of ISCA, said.
The ISCA was the first to join Chartered Accountants Worldwide; other
members include chartered accountants' bodies of England and Wales,
Pakistan, Australia and New Zealand, Ireland, South Africa and Zambia.
The ICAI is the "second largest accounting body" in the world and has
8.75 lakh active students; it has 27 chapters outside India and an
overseas office in Dubai.