India Pushes for Globalisation of Its Accountants

The president of the Indian Chartered Accountants of India (ICAI) is pushing for the "globalisation of Indian accountants" as more Indian companies grow and go global, reports the Economic Times.


To help globalise India's accountants, the ICAI has tied up with many accounting institutes and it recently signed an MoU with the Canadian Institute for Chartered Accountants. ICAI is also working with the New Zealand Institute of Chartered Accountants.


"India is growing at a rapid pace, a lot of FDI is flowing into the country, Indian companies are setting offices abroad, acquiring firms and merging it to grow bigger and global," the newspaper quotes ICAI president G Ramaswamy as saying. Ramaswamy adds that "The IFRS (International Financial Reporting Standards) is expected to throw ample opportunities for CAs in India."


Ramaswamy says that the ICAI has also set up an IFRS Implementation committee, which envisages involvement of a number of CAs in the implementation of IFRS.





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