The objective of the MoU between ICAI and ICAN is to establish mutual co-operation for the advancement of accounting knowledge, professional and intellectual development, advancing the interests of their respective members and positively contributing to the development of the accounting profession in Nepal and India.
ICAI has a strong membership base of over five thousand members in the Nepal and the MoU aims at mutually work together for sharing knowledge transfer of best practices in the Accountancy and Auditing profession in Nepal and India. Through such activities, substantial goodwill is expected to be generated for India, Indian citizens and Indian Chartered Accountants in the Nepal.
The Institute of Chartered Accountants of India (ICAI) is a statutory body established by an Act of Parliament viz., The Chartered Accountants Act, 1949 in the year 1949 for regulating the profession of Chartered Accountants in the country is the second largest accounting body in the world.
During its more than 68 years of existence, the ICAI has achieved recognition as a premier accounting body in the country for its contribution in the fields of education, professional development, maintenance of accounting, auditing and ethical standards. The ICAI's sagacious journey has seen it expand nationally and globally with its establishing 163 branches in India, 30 chapters overseas and over 12000 members spread across the globe are large testimony of the professional virtues. ICAI has occupied the centre stage of worldwide accounting profession with its 273 thousand members and more than 800 thousand students.
The Institute of Chartered Accountants of Nepal was established under a special act, The Nepal Chartered Accountants Act, 1997 to enhance social recognition and faith of people at large in the accounting profession by raising public awareness towards the importance of accounting profession as well as towards economic and social responsibility of the accountants, and to contribute towards economic development of the country.