The Hindu Business Line : ICAI eyes global enrolment — Seeks nod for articleship under foreign accountants

This is one of the items on the agenda of the Institute of Chartered Accountants of India, which wants to spread its tentacles overseas, particularly in countries that do not have recognised institutes for accountancy.

The ICAI has now approached the Government to allow overseas students doing articleship under recognised accountants practising in those countries to take the CA examinations offered in India by the institute.

"Currently the Government allows only those who have done articleship under an accountant who is our member to take our examinations," said Mr Kamlesh S. Vikamsey, ICAI's new Vice-President.

There is a huge demand from children of non-resident Indians who, for various reasons, cannot come to India to do their articleship under Indian CAs, he said. "But they want an Indian CA qualification because they eventually want to return to India, which is an increasing trend."

These students, however, have access to recognised chartered accountants from institutes of other countries with whom they can do their articleship; "We want this to be allowed by the Government of India," said Mr Vikamsey.

The ICAI eye is not only on the NRI population but also on foreigners. "Indian chartered accountants are scattered across the globe, and their qualifications and abilities are well recognised, even in the US." Mr Vikamsey said that aspiring accountants could take the Indian CA course and become members of ICAI in places such as South Africa, countries of West Asia and, perhaps, other nations in the African continent where there are no recognised institutes. This would become imminently possible if overseas articleship under CAs with overseas qualifications were recognised, he said.

ICAI's recently formed Committee for Review of Education and Training is working on new accounting and auditing standards. "We are benchmarking them with international standards," said Mr Vikamsey. This could make the Indian accountancy qualification even more attractive to overseas students. The ICAI already has two centres abroad, in Nepal and in Dubai. But here it is ICAI's own members that students get to do their articleship with.

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ICAI eyes global enrolment — Seeks nod for articleship under foreign accountants