Institute of Chartered Accountants of India (ICAI) has signed an MoU with an Abu Dhabi-based research institute to train mid-rank accountants in the UAE .

ICAI and Centre of Excellence , Research and Training (CERT), the commercial arm of the Higher Colleges of Technology (HCT), had signed the MoU on January 4 to start a one-year 'Accounting Technician' diploma course mainly to cater to Emirati students.

ICAI will develop the course curriculum for the diploma, the first batch of which is expected to commence in July. The course will be tailor-made to suit the local laws and regulations.

ICAI's Dubai chapter, with 1,5000 members, is its largest overseas chapter.

In Dubai, ICAI is also conducting International Financial Reporting Standards (IFRS) certification course for its members at its Knowledge Village training office.

The institute has launched a nationwide campaign to spread awareness on the convergence of Indian accounting standards with IFRS.

As a preliminary step, IFRS certificate and IFRS e-learning system had already been started and so far over 2000 students have cleared the course.