The Union Cabinet has considered renewal of the MoU between ICAI and HCT of UAE to work together in strengthening the Accounting, Financial and Audit knowledge base within UAE. The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, on Wednesday approved renewal of Memorandum of Understanding (MoU) between the Institute of Chartered Accountants of India (ICAI) and Higher Colleges of Technology (HCT) of United Arab Emirates (UAE) to strengthen the accounting, financial and audit knowledge base within the Gulf nation.
The MoU signed in 2011 provides for conceptualising of a specialised module by ICAI for UAE nationals by devising an international curriculum in accountancy by integrating local needs keeping in mind various requirements of different level of accountancy and audit professionals in UAE.
“Besides providing technical assistance to HCT, the ICAI will also recommend introduction of new courses and modules. ICAI will recommend introduction of new/revised courses and modules that will facilitate HCT students to write ICAI’s Technical professional Examination with aim to acquire membership of ICAI” the communique said.
MoU also encourages the institutional level exchange of faculty and the students between the two countries. ICAI will provide certification courses for HCT students and HCT will provide facilities to hold ICAI’s professional and technical exams.
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HCT and ICAI will collaborate to hold professional development and technical events, workshops, seminars and conferences at various HCT’s colleges in UAE. HCT will provide venue for such events and will encourage its students and faculty member to attend these events.
The ICAI has considered renewal of the MoU between ICAI and HCT to work together in strengthening the accounting, financial and audit knowledge base within UAE. The MoU was signed on January 4, 2011 for a period of 5 years.
The HCT and ICAI will collaborate to offer short professional courses in the domain of accounting, finance and audit in UAE via HCT’s Centre of Excellence for applied Research and Training (CERT).
The ICAI is a statutory body established by an Act of Parliament of India i.e. The Chartered Accountants Act, 1949 to regulate the profession of Chartered Accountancy in India. The Higher Colleges of Technology UAE is a community of more than 23,000 students and 2,000 staff based on 17 modern, technology-enhanced campuses in Abu Dhabi, Al Ain, Dubai, Fujairah, Madinat Zayed, Ras Al Khaimah, Ruwais and Sharjah, making it the largest higher education institution in the United Arab Emirates (UAE).
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HCT is dedicated to the delivery of technical and professional programs of the highest quality to the students within context of sincere respect for all beliefs and values and has the vision to be an internationally recognized and accredited provider of technical and professional tertiary education. The mission of HCT is to be a key education fundamental pillar on which a modern nation is built.
The ICAI has considered renewal of the MoU between ICAI and HCT, UAE to work together in strengthening the Accounting, Financial and Audit knowledge base within UAE through this MoU. The MoU with HCT was signed on 4thJanuary, 2011 for a period of 5 years.
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