There is some good news for chartered accountancy students. Aiming to place Indian chartered accountants on a par with their global peers, the Institute of Chartered Accountants of India (ICAI) has collaborated with its British counterpart - the Institute of Chartered Accountants in England and Wales (ICAEW) - so that Indian CAs can pass three more papers and qualify under the British body. Since ICAEW has larger acceptance than ICAI, Indian CAs, by passing the additional papers, can gain acceptance as qualified accountants in Europe, including the UK, and most countries around the world. Globally, the British body is considered as the leading body for accounting practices and rule making.

"This pact opens up two new avenues to ICAl members. First, ICAEW's global recognition gives members many opportunities to work across the globe. Second, this also gives an additional set of integrated skills that help Indian companies gain a global perspective, which tangibly accelerates growth," said Vandana Saxena Poria, chairman, British Business Group. The first of the ICAEW-ICAI graduates were felicitated on Wednesday.

According to data collated by the British trade body, 95% of the FTSE 100 companies have a CA on the board and greater than 50 of the FTSE 100 have a CA as CFO. "With India needing increased growth from all sectors, these newly minted ICAI-ICAEW members are set to catapult business with their new skills. It will also provide opportunity to these Indian graduates to be employed in the UK and Europe," Poria said. (Times of India)