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.