CPA Canada and the Institute of Chartered Accountants of India have signed a memorandum of understanding.
The MoU on Reciprocal Membership Arrangements (RMA) specifies the criteria by which members of one body are eligible for membership in the other.
It was signed by CPA Canada, on behalf of the CPA provincial and territorial bodies and the Chartered Professional Accountants of Bermuda, which has an affiliation with the Canadian CPA profession.
The MoU ensures Canadian qualification standards are maintained while recognising substantial equivalency in the core knowledge requirements of both countries. ICAI members looking to become Canadian CPAs are required to pass CPA Canada's Common Final Examination.
The MoU also allows Canadian CPAs seek career opportunities in India.
CPA Canada president and CEO Joy Thomas said: “The global economy requires mobility for its finance and accounting professionals. Providing a clear path to achieving credential recognition benefits members of both the Indian and Canadian accounting professions while giving both countries access to top talent.”
On the 15 November, CPA Canada signed a RMA with the Institute of Chartered Accountants in England and Wales.