ICAEW, Picpa ink agreement

THE Institute of Chartered Accountants in England and Wales (ICAEW) and the Philippine Institute of Certified Public Accountants (Picpa) recently signed a memorandum of understanding (MOU) to work more closely together.

The MOU was signed by ICAEW president Clive Parritt and Picpa president Josefina G. Chua, which took place at the China Britain Business Council office at the British Centre, Beijing, China, during the Confederation of Asian and Pacific Accountants conference.

The MOU represents a commitment from the two bodies to develop talent, share knowledge and advance the accountancy profession in the Philippines and the region.

Mutual interests

ICAEW and Picpa will develop learning programs in areas of mutual interests, such as International Financial Reporting Standards (IFRS), International Standards on Auditing (ISA) and audit firm governance, as well as share the latest advances in corporate governance, professional ethics and technical research.

“This agreement will further strengthen the relationship between ICAEW and Picpa. With the increase of globalization, it is very important for professional bodies in different countries to work together across national borders, and to learn from each other. This will also help us support our members professionally, technically and ethically, in different regions,” said Parritt.

“Picpa is delighted in expanding its international relations with ICAEW, a leading global accountancy body with a long and distinguished history. Members of both institutes will now be able to share knowledge and support, and we look forward to further strengthen the accounting profession in the Philippines,” said Chua.