The Institute of Chartered Accountants of India (ICAI), which is the apex body of chartered accountants, has said that it has provided technical assistance and aid to the Institute of Chartered Accountants of Nepal (ICAN). ICAI has undertaken this initiative to strengthen the examination systems of ICAN.
As per a release, some officers belonging to the ICAN paid a visit to the Institute of Chartered Accountants of India to inspect the examination system and talk about various activities that will lead to the conduction of examinations in a smooth way.
ICAI briefed the ICAN representatives about the entire process and several activities that the examination department of the Institute of Chartered Accountants of India carries out. The release also said that the delegates of ICAN were appreciative of all the efforts that ICAI took in this context.
Both institute, ICAI and ICAN, had signed a pact in 2017 which declares that they would be working jointly for the advancement and enhancement of accounting knowledge, intellectual and professional development, boosting the interests of their respective members and also positively contributing towards the development of the profession of accounting in the countries of India and Nepal.
The two institutes had signed their first pact in the year 1998 in which ICAI had provided assistance for the development of regulatory and profession framework within ICAN. The release mentioned that in order to further the terms of the agreement between these two countries and institutes, ICAI has been providing assistance to ICAN from time to time in several areas. This helps the two nations be supportive and helpful to each other while also improving accounting education in both nations.