New Delhi, Nov 20 (PTI) Chartered accountants body ICAI said Tuesday it has signed an agreement with the Chartered Professional Accountants (CPA), Canada.

The pact would facilitate mutual recognition of each other’s qualification and admit the members in good standing by prescribing a bridging mechanism between the two institutes.

According to ICAI, members in good standing refers to a certificate issued to a member of the institute indicating that nothing adverse about him has come to the notice of the institute and the certificate is also required for immigration and visa purpose.

“The Institute of Chartered Accountants of India (ICAI) has signed the Memorandum of Understanding (MoU) with the Chartered Professional Accountants of Canada (CPA Canada) on November 17, 2018 in Toronto, Canada,” the apex body said in a statement.

The pact would benefit more than 1,000 Indian CAs in Canada and other ICAI members in India who wish to get International qualification, ICAI President Naveen N D Gupta said.

In August, the Union Cabinet chaired by Prime Minister Narendra Modi had approved the MoU between ICAI and CPA Canada.

This is published unedited from the PTI feed.