Cabinet approves MoU between ICAI and CPA.

The Union Cabinet has approved the Memorandum of Understanding (MoU) between the Institute of Chartered Accounts of India (ICAI) and the Certified Practising Accountants, Papua New Guinea (CPA PNG). They would be working together in capacity building and to strengthen the Accounting, Financial and Audit Knowledge base in Papua New Guinea.

Memorandum of Understanding (MoU)

The Institute of Chartered Accountants of India (ICAI) and Certified Practising Accountants Papua New Guinea (CPA PNG) have signed MoU to work together in the following sectors:

  1. To conduct technical events, seminars and conferences in PNG.
  2. To Establish cooperation and collaboration in Corporate Governance, technical research and advice, Forensic accounting, quality assurance, Continuing Professional Development (CPD) and other subjects of mutual interests.
  3. To share unrestricted information about the accountancy profession in India and PNG.
  4. To develop the modules of specific subjects for CPA-PNG Examination.
  5. To organise the students and faculty exchange programs.
  6. To offer short term professional courses on accounting, finance and audit in PNG.

Significance of MoU  

The Indian Chartered Accountants (CA) fraternity will help the local business community and stakeholders on the Financial matters. It would also consolidate the trust and help to build positive image for Indian Chartered Accountants in Papua New Guinea.

Institute of Chartered Accounts of India (ICAI)

It is a statutory body. ICAI has been established under “The Chartered Accountants Act, 1949”. It regulate the profession of Chartered Accountants in India.

Certified Practising Accountants Papua New Guinea (CPA PNG)

It is an Accounting Professional Body that has been established under the Accountants Act, 1996. It promote the interests of the accountancy profession in Papua New Guinea.