ICWAI signs MoU with Russian counterpart

Updated on: Tuesday, September 28, 2010

The Institute of Cost and Works Accountants of India (ICWAI) has signed a Memorandum of Understanding (MoU) with the Institute of Professional Accountants and Auditors of Russia (IPAR) in Moscow in the presence of Ministry of Corporate Affairs Secretary R. Bandyopadhyay.ICWAI was represented by its President, B. M. Sharma and IPAR by its President, V.V. Skobara.

IPAR is the only legitimate accounting body in Russia and is also recognised by the International Federation of Accountants. It has roughly more than one lakh members working in various Russian organisations. ICWAI has also signed similar memorandums with CIMA UK, IMA USA, ICMA of Srilanka and, very recently, also supported the promotion of a Cost and Management Accounting body in Oman.

Bandyopadhyay said that this historic accord between ICWAI and IPAR paves way for long term cooperation in the field of business accounting, management accounting and related auditing in both countries. He also stressed the need for sharing experiences of both accounting bodies in the context of both Russia and India being important constituents of the BRIC and the G- 20 nations.

ICWAI signs MoU with Russian counterpart

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