MOU with IPAR, Russia

ICWAI enters into MoU with IPAR, Russia on 23rd September, 2010

The Institute of Cost and Works Accountants of India (ICWAI) represented by Mr. B.M. Sharma, President & Mr. A N Raman, Central Council Member and Institute of Professional Accountants and Auditors of Russia (IPAR) represented by Mr. V.V. Skobara, President have entered into an Memorandum of Understanding (MoU) aiming at long term cooperation in order to achieve perfection in business accounting, management accounting and audit in both the countries. This MoU was signed at Moscow, Russia on 23rd December, 2010. The agreement will benefit members

  • To develop joint R&D projects and promote the results of the researches in work practice of accounting community of both the countries.
  • To cooperate in various forms by realization of the rights and the economic competence of both the institutes stipulated by the current legislation and organizational and legal documents, specifying the status of the institutes.
  • To provide informative, organizational and other assistance to each other within the framework of this Agreement.

The agreement also aims at: 

Mutual Recognition

  • Both the institutes will work towards the admission of the individual members of each of the institutes as individual members of the other institute.
  • During the elaboration of requirements, placed on the members in regard to educational programmes, qualifying exams, training programmes, observation of norms of professional etiquette, the institute is to be guided by the appropriate documents of the International Federation of Accountants (IFAC).

Mutual Assistance

  • Each of the institutes shall assist the other institute in interaction with the government, public and private organizations of the country and assist the members in participation in the events, conducted by the institutes.
  • In order to enhance the level of professional competence of the members, the institutes shall provide to each other the information and organizational assistance concerning their activity.
  • The institutes shall assist each other in gaining recognition and entry to the membership of related international and inter-regional professional associations and other bodies and be ready to represent the interests of the other institute in interaction with the third institutes – the professional organizations (national, inter-regional and international).

Information support

  • Each of the institutes shall support the regular reference to the website of the other institute on its own site and will inform each other about the substantial changes in the documents coordinating their activity.
  • Each of the institutes agrees to exchange information on the issues regarding accepted disciplinary actions as well as take into account the disciplinary actions accepted by the other institute in regard to specific members.