MoU with The Chartered Institute of Public Finance and Accountancy


The Chartered Institute Of Public Finance And Accountancy (CIPFA) and The Institute of Cost Accountants of India (ICAI) entered into a Memorandum of Understanding on 25th January 2017 at London to strengthen public financial management capacity in India.

Both CIPFA and ICAI collaborate in the promotion of high quality financial management in India through joint activity in a number of potential areas.

  • Policy/ thought leadership and advocacy on the importance of high quality public financial management and auditing within government
  • Identification of PFM skills gaps within the profession and the public service in India.
  • Development of a package of measures designed to help ICAI build services to public sector members, and those working with the public sector
  • Developing Public Sector training and membership
    • Co-branded PFM professional training model
    • ICAI members who have 5 or more years of experience working in or with the public sector would be offered ‘dual designation’ full CIPFA membership in accordance with CIPFA’s bye-law conditions.
    • CIPFA will offer affiliate membership for all ICAI members with a fast track approach to full CIPFA membership.
  • Development of a PFM Centre of Excellence
  • Development of Accredited Training Partners in India