Recently the Union Cabinet has approved the Memorandum of Understandings (MoUs) entered into by Institute of Cost Accountants of India (ICoAl) and Institute of Company Secretaries of India (ICSI) with various Foreign Countries/Organisations.
Daily Current Affairs Quiz 2021
ICoAl and ICSI have signed MoUs with foreign organisations namely Institute of Public Accountants (IPA), Australia, Chartered Institute for Securities and Investment, UK (CISI), Chartered Institute of Public Finance and Accountancy (CIPFA), UK, Institute of Certified Management Accountants, Sri Lanka and Institute of Chartered Secretaries and Administrators (ICSA), UK.
The signed MoUswould help in advancement of the goals on equity, public accountability and innovation among the beneficiaries countries.
The Institute of Cost Accountants of India (ICoAl) was established by a Special Act of Parliament, namely, the Cost and Works Accountants Act, 1959 as a statutory professional body for the regulation of the profession of Cost Accountancy.
The Institute is the only recognised statutory professional organisation and licensing body in India specialising exclusively in Cost Accountancy.
Institute of Company Secretaries of India (ICSI) is a statutory body established by an Act of Parliament of India, i.e. The Company Secretaries Act, 1980 (Act No. 56 of 1980), to develop and regulate the profession of Company Secretaries in India.
