Cabinet nod to renewal of MoU between ICAI, UAE institute

The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved renewal of MoU between the Institute of Chartered Accountants of India (ICAI) and Higher Colleges of Technology (HCT) of United Arab Emirates, a cabinet communique said.

The MoU signed in 2011 provides for conceptualising of a specialised module by ICAI for UAE nationals by devising an international curriculum in accountancy by integrating local needs keeping in mind various requirements of different level of accountancy and audit professionals in UAE.

"Besides providing technical assistance to HCT, the ICAI will also recommend introduction of new courses and modules.aim to acquire membership of ICAI," the communique said.

The ICAI has considered renewal of the MoU between ICAI and HCT to work together in strengthening the accounting, financial and audit knowledge base within UAE. The MoU was signed on January 4, 2011 for a period of 5 years.

According to the communique, the ICAI will collaborate to provide seminars and workshops, specialised relevant adjunct faculty and certification courses for HCT students.

The HCT and ICAI will collaborate to offer short professional courses in the domain of accounting, finance and audit in UAE via HCT's Centre of Excellence for applied Research and Training (CERT).

The ICAI is a statutory body established by an Act of Parliament while HCT is a community of more than 23,000 students and 2,000 staff based on 17 modern, technology-enhanced campuses including in Abu Dhabi, Dubai and Sharjah.

--IANS

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