Cupboard approves MoU among Institute of Chartered Accountants of India and Qatar Monetary Centre Authority

The Union Cupboard, chaired by the Key Minister Shri Narendra Modi has permitted signing of Memorandum of Knowing (MoU) concerning Institute of Chartered Accountants of India (ICAI) and Qatar Monetary Centre Authority (QFCA).

The MoU would enhance cooperation among the Institutes to do the job together to reinforce the Accounting occupation and entrepreneurship base in Qatar.

Effect:

ICAI has a strong membership foundation of in excess of 6000 associates in Center East and Qatar (Doha) Chapter is amongst the most vivid Chapters of ICAI. ICAI customers maintain vital positions in many personal and general public organizations and are actively included in assistance and enhancement of the accounting career in Qatar. The signing of this MoU would supply an more impetus to potential clients of the ICAI Associates in the overall Center Eastern Region to have greater recognition, with each other with functioning to assist Indian organizations desirous of executing organization in Qatar and consequently supporting the progress of Qatar and India’s economies.

Advantages:

ICAI has an active Chapter in Doha, Qatar which was founded in the year 1981 and is the oldest between the 36 abroad Chapters of the ICAI. The membership of the Chapter has developed steadily due to the fact its founding times and presently has more than 300 users who keep critical positions in a variety of non-public and community businesses and are actively concerned in support and development of the accounting job in Qatar. This MoU will profit Ministry of Corporate Affairs, Institute of Chartered Accountants of India and Qatar Monetary Centre Authority.

Implementation method and Targets:

• MoU will endeavourto boost alternatives for users of ICAI to deliver qualified solutions via placing up follow for supplying skilled products and services in the State of Qatar in the areas of assurance and auditing, advisory, taxation, financial services and allied places.

• ICAI shall also nurture and establish community Qatar gurus, business owners and students as a result of a specialised teaching programme, in collaboration with QFCA.

• ICAI and QFCA will get the job done collectively to examine the possibilities for Indian businesses in Qatar by arranging roundtables, networking situations and so on., as the circumstance might be mutually agreed.

• ICAI and QFCA shall collaborate on opportunities that might come up in the fields of corporate governance, complex analysis and tips, high quality assurance, forensic accounting, issues for little and medium sized procedures (SMPs), Islamic Finance, Continuing Qualified Growth (CPD) and other topics of mutual desire.

Track record:

The Institute of Chartered Accountants of India (ICAI) is a statutory physique proven by an Act of Parliament of India, The Chartered Accountants Act, 1949′, to control the job of Chartered Accountancy in India. Qatar Monetary Centre Authority (QFCA) an impartial legal entity established pursuant to Law No. (7) of 2005,is liable for the enhancement and advertising of the QFC as a world-class on-shore financial and small business centre in the Point out of Qatar.