CA Maldives visits ICAI to sought assistance for getting in-depth introduction on its working

As a partner in nation-building, the Institute of Chartered Accountants of India (ICAI) has always lent its full support to developing countries efforts to institutionalize and grow the accounting profession. Because it is a founding member of many reputable international accounting bodies and has MRA/MoUs with 23 global bodies, the ICAI believes it has a much larger role to play in developing the accountancy profession, and it has previously extended its expertise and infrastructure support to various countries. The goal is to help transition economies develop capability.

On March 8, 2022, a group led by Mr. Hussain Niyazy, the Maldives’ Auditor General and President of CA Maldives, paid a visit to ICAI. The Maldives Chartered Accountants Act 13/2020, which regulates the audit profession, was enacted on September 8, 2020, and the Institute of Chartered Accountants of the Maldives (CA Maldives) was created on September 8, 2020.

“The visit of the leadership of CA Maldives is the first step towards working closely with each other in the areas of sustainability, forensic accounting, and valuation standards setting, etc. for the benefit of the profession in the Maldives,” said CA. (Dr.) Debashis Mitra, President, ICAI, during the interaction. The ICAI gives CA Maldives its support in further growing the accountancy profession in the country.”

CA Maldives had sought ICAI’s help in learning more about the organization’s operations, particularly in the areas of examination, course structuring, disciplinary mechanism, peer review, Members & Students Services, continuous Professional Development, and other important initiatives such as Sustainability, Forensic Accounting, Valuation Standards, and the Digital Learning Hub.

By developing mutual cooperation between the two Institutes for the advancement of accounting knowledge, professional and intellectual growth of the professionals in the Maldives, ICAI would support CA Maldives in the development of the accountancy profession in the Maldives. ICAI‘s varied pragmatic initiatives and efforts were highly praised by the group.