The Institute of Chartered Accountants of India (ICAI), as partner in nation building, always offers its wholehearted support in the endeavours of developing countries for institutionalisation and development of accountancy profession. Being founding member of many international accounting bodies of repute and having MRA/MoUs with 23 global bodies, the ICAI feels that it has a much larger role to play by extending its expertise to develop the accountancy profession and it has extended its expertise and infrastructure support in the past for various countries. The endeavour is to build capacity in transition economies.

A delegation led by Mr. Hussain Niyazy, the Auditor General of Maldives & President of CA Maldives visited ICAI on March 8, 2022. The Institute of Chartered Accountants of the Maldives (CA Maldives) was established on 8th September 2020 after the enactment of the Maldives Chartered Accountants Act 13/2020 to regulate the audit profession.

During the interaction, CA. (Dr.) Debashis Mitra, President, ICAI stated “The visit of 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 Maldives. ICAI offers its support to CA Maldives in further strengthening the Accountancy Profession there.”

CA Maldives had sought assistance of ICAI for getting an in-depth introduction on the working of ICAI particularly in the areas of examination, course structuring, disciplinary mechanism, peer review, Members & students services, continuous Professional development etc. besides the various important initiatives taken by ICAI relating to Sustainability, Forensic accounting, Valuation Standards, and Digital Learning Hub.

ICAI would support CA Maldives for the development of the accountancy profession in Maldives by formulating mutual co-operation between the two Institutes for advancement of accounting knowledge, professional and intellectual development of the professionals in Maldives. The delegation was very appreciative of the various pragmatic initiatives and efforts taken by ICAI.