Indian CAs may soon get recognition in Singapore as ICAI, ISCA move towards MRA

Indian Chartered Accountants (ICAs) may soon gain wider recognition in Singapore, as the Institute of Chartered Accountants of India (ICAI) and the Institute of Singapore Chartered Accountants (ISCA) move towards a full Mutual Recognition Agreement (MRA). The two institutes have exchanged letters signaling their intent to work towards this reciprocal recognition framework, which would allow Indian CAs to work more easily in Singapore and vice versa.

The proposed MRA would build on the existing arrangement where ISCA added the ICAI qualification to its list of Recognised Professional Qualifications in February 2023, enabling Indian CAs in Singapore to become ISCA Associate Members. Beyond this, ICAI and ISCA are also exploring collaboration in artificial intelligence capability building for the accounting profession, with both institutes planning to examine how their AI initiatives can complement each other.

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