In order to promote member to member and firm to firm contact so as to understand the economic and regulatory environment and better understanding of the economic opportunities and to tap the vast market existing for Chartered Accountants in Australia; the International affairs Committee of ICAI had undertaken a study tour to Sydney and Melbourne from September17-24, 2013 for members, on self financing basis. 21 delegates participated in the study tour wherein ICAI was represented by CA. Subodh Kumar Agrawal, President, ICAI and CA. K Raghu, Vice President, ICAI.

Meetings were held with the Institute of Chartered Accountants of Australia, Consulate General of India in Sydney, Australian Accounting Standards Board and CPA Australia. The delegates also attended the International Conference organized by Sydney Chapter of ICAI. Discussions and deliberations were held about spreading the benefits of MoU to membership at large at either ends. The possibility of conducting joint research in areas of Contemporary interest like IFRS implementation, Corporate Governance, XBRL, Company Laws etc. were also explored.