ICAI signs MoU with CPA Canada

The Institute of Chartered Accountants of India (ICAI) has signed the Memorandum of Understanding (MoU) with the Chartered Professional Accountants of Canada (CPA Canada) in Toronto to facilitate mutual recognition of each other’s qualification and admit the members in good standing by prescribing a bridging mechanism between the two institutes. 

While signing the MoU, C A Naveen N D Gupta, president, ICAI mentioned, “The MoU  will bring better professional opportunities for chartered accountants of both the countries. This will benefit more than 1,000 Indian CAs in Canada and other ICAI members in India who wish to get the international qualification.”

Under the terms of MoU, ICAI members in good standing with requisite experience are eligible for exemption from practical training requirements of CPA Canada as well as appearing in CPA Professional Education Program (CPA PEP), Capstone 1 and Capstone 2 modules. 

They can acquire the CPA qualification by passing the final examination i.e. three day’s Common Final Examination (CFE) only. —TNS