ICAI signs Mutual Recognition Agreement with CPA Ireland
New Delhi: The Institute of Chartered Accountants of India (ICAI) has signed the Mutual Recognition Agreement (MRA) with CPA Ireland on October 5, 2018 in Ireland. Signing of the Agreement between ICAI & CPA Ireland would facilitate mutually recognizing the Qualification of each other's and admit the Members in good standing by prescribing a bridging mechanism between the two Institutes. Under the terms of MRA, an ICAI member in good standing of ICAI can become the member of CPA Ireland on completing and passing 2 online tests in Irish Taxation and Irish Law & Strategy.
The Union Cabinet chaired by Prime Minister Narendra Modi on July 18, 2018 had approved the signing of MRA between the ICAI and CPA Ireland. The Agreement provides for recognition of their respective Members' prior qualifications and providing membership services to each other's Members in their "home" locations; and jointly undertake a range of activities and initiatives. While signing the MRA, CA. Naveen N.D. Gupta, President, ICAI mentioned that "The MRA between ICAI and CPA Ireland would help to foster strong working relations between the two accounting institutes and will lead to greater mobility of professionals at either end."