The Institute of Chartered Accountants of India (ICAI) and the Institute of Chartered Accountants of Nepal (ICAN) had entered into an MoU that was approved by the Union Cabinet chaired by Prime Minister Narendra Modi and later on formally signed and exchanged by both the institutes in his august presence in the year 2017.
The MoU interalia provides that both ICAI and ICAN would be jointly working 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 India and Nepal.
Recently, ICAI provided technical assistance to ICAN in further strengthening their examination systems wherein officers from ICAN visited ICAI to peruse the examination system and discuss various activities related to smooth conduct/flow of examinations. The representatives of ICAN were briefed about the entire examination process and the various activities being carried out by the examination department of ICAI. The delegation was very appreciative of the efforts taken by ICAI in this regard.
It is pertinent to note that the ICAN came into being with the technical support provided by the ICAI. The first MoU between ICAI & ICAN was signed in the year 1998 wherein ICAI provided assistance for development of profession and regulatory framework namely drafting of syllabi, setting up of the examination system and others.