The Institute of Cost Accountants of India
(Statutory body under an Act of Parliament)
Institute Signs MOU with CISI, UK
In a path breaking event, the Institute of Cost and Works Accountants of India (ICWAI) and Chartered Institute for Securities and Investment (CISI), UK signed a memorandum of understanding on awarding the membership of CISI to ICWAI members and concessional fee for ICWAI students. The MOU was signed by M. Gopalakrishnan, President, and by Simon Culhane, Chief Executive, CISI in presence of Rakesh Singh, Vice President, ICWAI and other senior council members and officials of ICWAI.
The Chartered Institute for Securities & Investment is the largest professional body for those who work in the securities and investment industry in the UK and in a growing number of major financial centres round the world. Evolved from the London Stock Exchange, they now have more than 40,000 members in 89 countries.
ICWAI is formed by an Act of Parliament in India to regulate the profession of cost and management accounting and has more than 50,000 members and 3,50,000 students. ICWAI has been increasing its visibility by signing such memorandums with CIMA UK, IMA USA, NIA Australia, ICMA of Sri Lanka, IPAAR Russia and also very recently helped in establishing of a cost and management accounting body in Oman.
The CISI agreed to offers entry to their membership upon application at Associate (ACSI) level to ICWAI members and Member (MCSI) level to members of ICWAI with three years’ relevant experience. Both parties have also agreed to conduct seminars and conferences on contemporary areas such as IFRS, business valuations etc. Further, they have also agreed to share developments in the areas of common interest at international level.
According to Mr.Gopalakrishnan, President ICWAI, this historic accord between ICWAI and CISI paves way for long term cooperation in the field of management accounting, risk management, Assets Servicing, global securities operations and investment in both countries. To give benefit to the students of both the institute it has been agreed to offer their courses to the student of other institute at a special concessional fee.
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