Memorandum of Understanding (MoU) Signed Between ICAI and Netherland VRC, the Union Cabinet Gives The Nod

The Union Cabinet head by the Prime Minister Narendra Modi on Wednesday gave approval to sign MoU between the Institute of Chartered Accountants of India (ICAI) and the Netherlands-based Vereniging Van Register Controllers (VRC)

ICAI, the chartered accountants’ apex body, has over 1,500 members in the European region and around 80 members in the Netherlands.

VRC is a voluntary professional organization and members offer services in management accounting, financial accounting, integrated reporting, strategic control and risk management, and corporate governance.

“The speculated MoU, for providing assistance to VRC, the Netherlands, shall benefit the ICAI members in the region and would provide an additional impetus to prospects of the ICAI members to get professional opportunities in the Netherland,” the statement said.

The statement further added, ”the engagement would help both the country in term of generating employment; MoU between the premier institutes of both the countries would also increase the opportunity for Indian chartered accountants and greater remittances back to India.”

The ICAI is a statutory body established under the CA Act 1949 for the regulation of the profession of CA in India. VRC Netherland established in 1988, is a voluntary professional organization and members offer services in management accounting, financial accounting, integrated reporting, strategic control and risk management, and corporate governance.

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