The Institute of Cost Accountants of India (ICAI) and UK-based The Association of Chartered Certified Accountants (ACCA) today inked a pact to work towards co-operation in respect of professional training, education and examinations. 

The Memorandum of Understanding (MoU) will open new avenues for students and members of both the Institutes, a official statement said today. 

"ICAI and ACCA have also agreed to offer jointly-organised and co-branded continuing professional development (CPO) courses, workshops and conferences," it added. 

The two Institutes will also identify suitable research opportunities and undertake joint research and publications. 

ICAI was set up for promoting, regulating and developing the profession of Cost Accountancy in India. The Institute has a strong base of around 66,000 members and 4.50 lakh students across the country. 

ACCA is a global body for professional accountants, with 4.36 lakh students and 1.70 lakh members in 180 countries. (PTI - Economic Times)