ICAI Renews MRA with CPA Australia to Boost Global Mobility for Accountants

The Institute of Chartered Accountants of India (ICAI) and CPA Australia renewed their Mutual Recognition Agreement (MRA) for a further period of five years, reaffirming their shared commitment towards strengthening the global accountancy profession through continued collaboration and professional excellence.

The Mutual Recognition Agreement provides an established framework for recognizing the professional qualifications of eligible members of both organizations, thereby facilitating greater professional mobility while upholding the highest standards of competence, ethics, and professional practice.

The Extension Agreement was formally signed at the ICAI Headquarters, New Delhi, in the presence of CA. Prasanna Kumar D, President, ICAI; CA. Mangesh Kinare, Vice-President, ICAI; CA. Charanjot Singh Nanda, Immediate Past President; CA. (Dr.) Jai Kumar Batra, Secretary, ICAI; and delegation from CPA Australia led by Mr. Chris Freeland AM, Chief Executive Officer, along with senior representatives.

Speaking on the occasion, CA. Prasanna Kumar D, President, ICAI, said, “The renewal of this MRA marks a significant milestone in the long-standing relationship between ICAI and CPA Australia. It reflects the confidence that both institutions have in each other’s professional standards and our commitment towards advancing excellence, ethics, and innovation in the global accountancy profession. As the profession continues to evolve, this partnership will create greater opportunities for our members and contribute meaningfully to strengthening the global financial ecosystem.”

Addressing the gathering, Mr. Chris Freeland AM, Chief Executive Officer, CPA Australia, appreciated the significant contribution of Indian Chartered Accountants to the global profession. He expressed confidence that the renewed Agreement would further enhance collaboration in areas of professional development, capacity building, and global mobility.

Welcoming the delegation, CA. Mangesh Kinare, Vice-President, ICAI, stated, “ICAI’s Chapters in Sydney, Melbourne, Brisbane and Adelaide work closely with CPA Australia through joint professional initiatives, technical programmes and knowledge-sharing activities, further strengthening the partnership between the two organizations“.

The signing ceremony was followed by an engaging interactive session between the CPA Australia delegation and the Members of the ICAI Central Council, during which both sides exchanged views on emerging developments in the accounting profession, technological transformation, sustainability reporting, capacity building and opportunities for enhanced collaboration in the years ahead.

The renewed Agreement marks another important milestone in the strategic partnership between ICAI and CPA Australia and is expected to further deepen cooperation in areas of mutual interest while creating greater value for members of both organizations and the global profession.

The Institute of Chartered Accountants of India (ICAI) is a statutory body set up by an Act of Parliament under the Chartered Accountants Act, 1949 for the regulation and development of the profession of Chartered Accountancy in India. The Institute functions under the administrative supervision of the Ministry of Corporate Affairs, Government of India. With over 15 Lakh Members and Students, today ICAI is the largest professional accountancy body in the world. ICAI has a wide network of 5 Regional Councils and 186 Branches within India and a global presence with 54 Overseas Chapters and 31 Representative Offices spanning 85 cities across 47 Countries worldwide.

Founded in 1886, CPA Australia is one of the world’s largest professional accounting bodies representing more than 176,000 members working in over 100 countries and regions around the world, with more than 25,000 members working in senior leadership positions. CPA Australia advances its members’ interests through education and knowledge exchange, the development of professional networks, thought leadership and the promotion of value of CPA Australia members to employers, government, regulators and the public.

The CPA Australia designation denotes strategic business leadership and is recognised and valued throughout the world. A CPA is a Certified Practising Accountant. More information available at www.cpaaustralia.com.au