The UK-based Association of International Accountants (AIA) is going to combine forces with the CA Institute.
Both parties are going to sign a mutual recognition agreement (MRA) in Chennai on Friday.
The MRA helps home-grown chartered accountants to get an additional qualification without taking any separate exams, so says Mr G. Ramaswamy, President of the Institute of Chartered Accountants of India (ICAI).
The Indian CAs are not going to receive any practising rights in the UK as a result of this agreement.
AIA was established in 1928 in the UK in 1928 as a professional accountancy body. From the start, it has promoted the concept of ‘international accounting’ by forming a global network of accountants across 85 countries throughout the world.
Under the Companies Act 2006, the UK government recognises the AIA as a qualifying body for statutory auditors.