ICAI inks MoU to devise int curriculum for CAs in Abu Dhabi

New Delhi, Sep 1 (UNI) The Institute of Chartered Accountants of India (ICAI) has entered into a Memorandum of Understanding (MoU) with Abu Dhabi-based Centre of Excellence for Applied Research (CERT) to develop an international curriculum in accountancy in the region integrating local needs with requirements of the different levels of accountancy and audit professionals.

Under the MoU, the ICAI will help in conceptualising the curriculum on accountancy which will be suitably modified to Dubai laws, review the existing education and skill sets in the area of accountancy and auditing as also help in developing the accountancy and auditing profession in the UAE region, ICAI President T N Manoharan told newspersons here today.

The MoU was signed between the ICAI President and CERT Vice Chairman Tayeb Kamali on August 25 in Abu Dhabi.

"The Institute is interested in exploring setting up of an independent institute to promote chartered accountancy as a profession in the oil-rich region, where demand has grown due to a booming stock market with foreign institutional investment and presence of multinational companies," Mr Manoharan said.

He said the Institute had impressed upon the Abu Dhabi government on the need to evolve standards for compliance of those certifying financial instruments by boosting investor confidence and setting auditing norms in the absence of a mechanism to cancel licences or to regulate businesses in the Emirates.

The proposal, however, was expected to take time before it was formalised.

This is not the first time that the Institute has taken the lead role in guiding countries where the accounting profession is yet to be developed.

Earlier, ICAI has assisted in the formation of the Institute of Chartered Accountants of Nepal besides helping the accounting bodies in Sri Lanka as well in Nepal to launch the post qualification course on Information Systems Audit, he said.

More UNI SD DKS DS1615