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Cabinet approves Memorandum of Understanding between Institute of Chartered Accountants of India (ICAI) and The Polish Chamber of Statutory Auditors (PIBR)

Newdelhi:22/12/21:The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, today has approved the signing of Memorandum of Understanding (MoU) between the Institute of Chartered Accountants of India(ICAI) and the Polish Chamber of Statutory Auditors (PIBR) to establish mutual co-operation in the areas of Member Management, Professional Ethics, Technical Research, CPD, Professional Accountancy Training, Audit Quality Monitoring, Advancement of Accounting Knowledge, Professional and Intellectual Development.

Implementation Strategy and Targets:

The proposed MoU aims to strengthen co-operation in the matters of study and application of new innovative methods in the field of audit and accounting including the application of blockchain, smart contract systems, transition from Traditional Accounting to Cloud Accounting etc. ICAI and PIBR also intend to share information through the exchange of books, magazines, and other publications published by professional organizations, mutual publication of articles on audit and accounting on the magazines and websites of both parties, and to undertake joint cooperation in the fight against corruption and money laundering.

Impact:

The MoU between ICAI and PIBR, Poland, is expected to strengthen its footprints in Europe by providing prospects for the ICAI Members to get professional opportunities in Poland in the short to long term future. The aim of MoU is to work together to develop a mutually beneficial relationship for the members of ICAI and PIBR. With MoU, ICAI would be able to strengthen the partnership with Poland by providing the Export of Services in the accountancy profession.

ICAI members are holding middle to top-level positions in various organisations across the countries and can influence the decision/policy-making strategies of respective organizations of a country. ICAI through its vast network of Chapters and Representative Offices in 73 cities of 47 countries of the world is committed to playing an important role by sharing the prevalent practices in these countries so that the Government of India can adopt the best practices being followed by them to attract foreign investment and to encourage them to establish their setup in India. This MoU will benefit the Ministry of Corporate Affairs, the Institute of Chartered Accountants of India, and The Polish Chamber of Statutory Auditors (PIBR).

Background:

The Institute of Chartered Accountants of India (ICAI) is a statutory body established under the Chartered Accountants Act, 1949 for regulating the profession of Chartered Accountants in India. ICAI has contributed immensely in the field of education, professional development, maintenance of high accounting, auditing, and ethical standards in furtherance of the profession of Chartered accountants, which is recognized globally. The Polish Chamber of Statutory Auditors (PIBR) self-government of Statutory Auditors was established in accordance with the Act of October 1991 on auditing and publishing financial statements and on statutory auditors which came into force on 1 January 1992 to regulate the audit profession in Poland.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.
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