Action Plan 2009-2010

The Institute of Chartered Accountants of India

International Affairs Committee

Positioning the Indian Chartered Accountancy &

Auditing Profession Globally

Establishing contact points/liaison offices in major cities worldwide and opening up of ICAI offices in countries with sizeable presence of members of ICAI.Raising profile of ICAI and Indian accounting profession in international forums of accountancy and related organizations.Popularizing Indian CA qualification in countries of interest to Indian accounting profession through an aggressive strategy – by enhancing publicity in the foreign magazine

Representation on Technical Committees of Foreign Accountancy Bodies abroad and vice- versa.

Providing link of ICAI website on the website of foreign accounting bodies.

Capacity Building of the

Profession

Organizing events/ symposium with International Standard Setters and Program Organizing unit so as to carry forward the task of preparing members for International Standards at the grass root level.

Initiating steps for recognition of Indian qualification in foreign countries through Mutual Recognition Agreement.

Participating in the projects of the Multilateral Agencies and involving participation of members.

Studying the best practices globally to align the ICAI education as per the emerging imperatives .

Promoting students exchange programme and staff exchange programmes

Facilitating Member exchange programme

Technical Cooperation to

Developing and least Developed Countries

Continue to provide technical support to accounting bodies in SAARC Region.

Assuming a mentorship role through IFAC/CAPA/SAFA, or otherwise, in development of accounting profession in underdeveloped/developing nations, and promoting compliance in standards of accounting and auditing in those countries.

Providing technical and administrative help in institutionalization of accountancy profession in under developed and developing economies.

Providing capsule courses to accountants on IFRS, Accounting, Government Accounting, Public Sector Accounting from developing and under developed economies.

Resource Sharing

Providing a reservoir of information regarding Study Material, Question Papers and basic information about the Chartered Accountancy profession of Accountancy Bodies across the World so as to facilitate global networking of accounting bodies abroad.

Strategic collaboration with relevant international bodies for exposure of the accounting profession in India to the best practices followed worldwide, and, knowledge networking

Organizing workshop-involving participation of speakers from foreign accountancy bodies to share their country experiences on the issues relating to accounting and allied areas as a measure of CPE programme.

To be proactive in International standards setting process by making international documents available to Indian members and inviting comments on the exposure drafts. This would involve participation of members in the International Standard Setting process and also help the members to acquaint themselves with the International Standards.

Trade Facilitation

Liaison with International forums like UNCTAD, European Commission, World Bank and Asian Development Bank to apprise them of developments nationally by organizing joint interaction with them

Promoting ICAI as one stop gateway for all the enquiries relating to trade facilitation.

Establishing contact with the trade/ Chambers of Commerce in developing/ developed countries to position the Indian Chartered Accountant.

Establishing collaboration with apex trade associations and organizing CFO meet during the visits of Foreign delegations to India.

Towards increased mobility of ICAI

Members

Creating a portal as a tool for networking and knowledge sharing of members of the accounting profession across the globe by associating organisations like XBRL, IIN in the process.

Taking steps to promote bilateral cooperation between ICAI & other Accounting Bodies through MRA dialogue.

Focus on promoting non regulatory services to be exported globally.

Launching of ICAI curriculum outside India.

Representation before Government

accruing of International

Developments

Liaising with regulators and other organizations for recognition of ICAI qualification

Utilizing resources of Indian Embassy abroad as brand ambassadors for promotion of Indian accountancy profession abroad.

Services to Students and

Members Abroad

Using ICAI web for Networking with Members of International Bodies

To identify major knowledge domain areas which could provide a gateway to members in emerging areas like KPOs.

Opening Representative Offices in major countries across the globe.

Being a focal point for assuming the role as an opinion maker by disseminating/ making the foreign view point received through any medium including visit of foreign delegations by making them available to the notice of Government regulators, think tank and others

Publication and Research Activities

Joining hands with Accountancy Bodies for commonality of views on important matters relating to standard setting.

Organizing joint research in contemporary areas with other accountancy bodies.

Creating more internal resources by requesting the international bodies to share their periodicals, research with ICAI.

Professional Opportunities Abroad

Strengthening interface between the Institute and the members abroad in order to provide more and better services to them and take their inputs for external reach of the Indian accounting profession.

Pursuing best endeavour approach for MRAs keeping in view mutuality of interest and following a just and reasonable approach.

Appointment of Consultants abroad to explore professional opportunities abroad for members in India.

Sharing information about availability of professional opportunities abroad through website of ICAI.

Augmentation &

Consolidation

Pre- qualification assessment of major accountancy bodies of World.

Bringing Non Members Indian CAs abroad into fold of ICAI membership

Compilation of directory of Foreign members

Introduction of Best Chapter award

Inviting cooption on the International Affairs Committee from abroad.

The Institute of Chartered

Accountants of India

Thank You