sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
« ICAI »
 Provisional Panel of Chartered Accountant Firms/LLPs with the O/o C&AG for the year 2018-2019.
 CPE Events 23th April - 28th April 2018
 Request for valuable suggestions on the Exposure Draft of Indian Valuation Standards formulated by Valuation Standards Board of ICAI latest by 12th May, 2018.
 CPE Events 16th April - 21th April 2018
 Invitation to Members to Empanel as a Resource Person to Conduct Investor Awareness Program
 Accounting Policy Changes (Proposed amendments to IAS 8)
 Ind AS Transition Facilitation Group (ITFG) Clarification Bulletin 15
 Group on Vision 2024 for Global Presence of Indian CAs
 Educational Material on Indian Accounting Standard (Ind AS) 103, Business Combinations
 Invitation to Empanel as a Resource Person to Conduct Various Programmes for the Benefits of Members in Industry.
 Reconstitution of Group for Review of Examination, Evaluation & Testing

Indian CAs can practise in UK
November, 26th 2008

While the legal profession in India is still weighing the pros and cons of opening up to foreign competition, chartered accountants have gone ahead and taken the plunge. The Institute of Chartered Accountants of India (ICAI) has signed an agreement with the Institute of Chartered Accountants in England and Wales (ICAEW), allowing both countries to recognise the qualification of CAs from the other country.

The move will allow CAs in India to practise in the United Kingdom, and permit British CAs to set up shop in India.
The ICAI is also in talks with countries like Canada and Australia for signing similar agreements. The agreement signed between UK and India will temporarily grant qualified CAs of both countries a level-playing field for practicing in the field of taxation and consultancy.

However, they will, at present, not be allowed to audit the accounts of companies in the host country. It would be allowed after the matter is taken up for approval with UKs Financial Reporting Council (FRC). Once an approval is granted by the professional oversight board of FRC UKs independent regulator for corporate reporting and governance Indian CAs will be provided a platform at par with their UK compatriots to audit the accounts of corporate entities there.

According to ICAI president, Ved Jain, The agreement stands on the principles of reciprocity. Once the ICAEW gets approval of audit rights for Indian CAs, we will lend similar professional openings for their CAs also. In India, ICAI is not required to seek approval of government or an independent regulator for taking such decisions.

On the adaptability of the services of foreign professionals within India Inc, Mr Jain says that the professionals working here will be guided under strict professional standards maintained by the ICAI, and hence there will be no lapse in service delivery.

Observing that India and UK have strong trade interest, ICAEW deputy-president Martin Hagen said that the initiative will enable closer working linkages between the two countries. The MoU will require CAs of both countries undergo training programmes on each others accounting practices.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - We Bring IT. Offshore software outsourcing company. We use Global Delivery Model (GDM) and believe in Follow The Sun principle

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions