ICAI signs MoU with CERT

Abu Dhabi: The Abu Dhabi-based Centre of Excellence for Applied Research and Training (Cert) has joined hands with the Institute of Chartered Accountants of India (Icai) to establish an independent institute for promoting chartered accountancy as a profession.

An MoU between the two bodies was signed recently by Dr Tayeb Kamali, Vice-Chairman of Cert and Manoharan T.N, President of the ICAI.

"According to the MoU, Cert and Icai have agreed to conceptualise and devise an international curriculum in accountancy, integrating local needs and keeping in mind various requirements of different levels of accountancy and audit professionals," said Prakash Mehta, Chairman of the ICAI Abu Dhabi chapter.

"With a rapidly growing UAE economy and financial markets, it is the right moment that such an initiative is taken by the UAE to regulate accounting, auditing and financial information disclosure activities to give better confidence to investors," Mehta said in a statement.

As per the MoU, the existing education and skill sets in the area of accountancy and auditing would be reviewed and a strategic plan prepared for the development of accountancy and auditing profession in the UAE which would ensure independence and impartiality. "The MoU also seeks to explore the establishment of an independent institute for promoting chartered accountancy as a profession."