ICAI signs strategic MoUs with IVCA and NSE IX to strengthen financial markets ecosystem

New Delhi [India], July 30 (ANI): The Institute of Chartered Accountants of India (ICAI), the world's largest accounting body, has signed landmark Memorandum of Understanding (MoUs) with the Indian Venture and Alternate Capital Association (IVCA) and NSE IFSC Limited (NSE IX) to advance investor education and professional development in India's financial markets.

The strategic partnerships were formalised in the presence of senior officials from all three organisations, marking a significant step towards strengthening India's alternative capital markets ecosystem and enhancing its global financial integration.

The MoU with IVCA, the apex industry body representing India's alternative capital sector, focuses on several key areas of cooperation. The partnership will establish joint expert groups on alternative capital issues and work towards standardising financial reporting frameworks through industry-led consultation.

CA. Ashley Menezes, Chairperson of IVCA, emphasised the collaboration's significance: "This MoU reflects our collective intent to deepen governance standards, enhance financial disclosures, and promote sustainable investing in India's growing capital market landscape."

Rajat Tandon, President of IVCA, highlighted the long-term vision: "At IVCA, we believe meaningful change begins with meaningful collaboration. This MoU with ICAI sets the stage for a structured knowledge exchange -- from joint expert groups and industry-specific financial frameworks to shared platforms for education and advocacy."

The parallel agreement with NSE IFSC Limited, a wholly-owned subsidiary of the National Stock Exchange operating at the International Financial Services Centre in GIFT City, Gandhinagar, aims to promote investor awareness and international investment opportunities.

NSE IX will also participate in ICAI's international outreach programs to position India's capital markets globally. Balasubramaniam Venkataramani, MD & CEO of NSE IX, expressed enthusiasm about the partnership: "NSEIX, being the premier market infrastructure institution in GIFT IFSC, is delighted to enter into this MoU with ICAI as the foremost professional institution of the country.

CA. Charanjot Singh Nanda, President of ICAI, described the partnerships as pivotal for India's economic transformation: "These collaborations mark a significant step forward in our shared vision for economic transformation through strengthened financial reporting, governance and investor empowerment. By joining forces with leading institutions, we aim to drive impactful, knowledge-driven initiatives that will elevate trust, transparency, and innovation across financial markets."

As India advances toward becoming a $5 trillion economy, these partnerships are designed to enhance high-quality financial reporting within the alternative investment space. The collaborations reinforce ICAI's role in shaping financial and regulatory frameworks aligned with the national vision of Viksit Bharat, Shashakt Bharat--a developed and empowered India.

During the event, CA. Nanda addressed questions about advertising guidelines for Chartered Accountants, clarifying that CAs and CA firms can already advertise under the existing 2008 guidelines. However, he noted that these guidelines are under revision to make them more contemporary, with a working group formed in July to address this matter.

Regarding recent changes to tax audit guidelines, ICAI has notified new rules limiting the number of tax audits that an accounting firm partner can undertake annually to 60, effective from April 2026. The new guidelines address concerns about senior partners utilising junior colleagues' quotas after exhausting their individual limits. (ANI)

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