ICASL and ICAEW sign MoU

The Institute of Chartered Accountants of Sri Lanka (ICASL) and the Institute of Chartered Accountants in England and Wales (ICAEW) signed a Memorandum of Understanding (MoU) recently, to establish closer working relations between the two bodies.

The MoU was signed by ICASL's President, Sujeewa Mudalige and ICAEW's Executive Director, Learning and Professional Development, Mark Protherough and enables qualified members of either Institute to join the other and to obtain non-auditing practising rights.

ICASL's President Sujeewa Mudalige said "This is a historic and momentous occasion for members of the ICAEW and ICASL. ICAEW assisted ICASL in its formative years and most of its founder members were in fact members of ICAEW. Over the years, ICASL has developed a close working relationship with ICAEW and we look forward to a mutually beneficial relationship. The two Institutes have been following the highest standards of professional education, training, technical and ethical standards. This agreement would facilitate mobility of members across the borders and further strengthen the ties between Sri Lanka and UK."

ICAEW President Gerald Russell said: "ICAEW and the ICASL have developed a close working relationship over the years and as a result of this agreement, we look forward to welcoming ICASL members to ICAEW. Removing barriers for professional accountants across markets, through agreements such as this, is an important part of our international strategy. ICAEW is keen to work in partnership with accountancy bodies across the world to enhance the profession globally."

The MoU will apply to all appropriately qualified and experienced ICAEW and ICASL members and recognises the evolution of both qualifications and the CPD responsibilities upon members.