KARACHI: The Institute of Chartered Accountants of Pakistan (ICAP) represented by President M Ali Latif and the Institute of Chartered Accountants in England and Wales (ICAEW) represented by President Mark Rhys, have signed a Memorandum of Understanding (MoU) taking significant steps to rejuvenate and strengthen their longstanding relationship spanning decades.

This further strengthens the commitment of both Institutes to work closely together to develop the profession. By this collaboration both institutions aim to foster mutual growth, enhance the quality of accounting and auditing practices and promote global best practices within the accounting profession.

This collaboration not only benefits their respective memberships but also contributes to the overall advancement of the accounting community within Pakistan & the UK.

This MoU will pave the way for signing a Mutual Recognition Agreement (MRA), by December 2023.

Together, ICAP and ICAEW will strive to create a conducive environment for professional development and learning, ensuring that their members are equipped with the latest skills and insights to navigate the ever-evolving landscape of accounting and finance.

Copyright Business Recorder, 2023