The Lord Mayor of the City of London, Hon’ble Ian Luder, visited India and during his visit, the ICAI & the ICAEW co-hosted an event on “A New Vision for Financial Services” on October 20, 2009 in Mumbai to explore the implications of recent experience for financial services and the businesses they service; and to develop a vision for the future of a global financial architecture which would restore confidence in financial services. The panel discussed the impact and depth of the global crisis. The session explored what had led to global financial systems to crash strikingly.

This event was attended by the top CEOs/CFOs of major corporates and banks, and senior members of the accountancy and legal profession who were part of the Lord Mayor’s business delegation. Senior experts from UK & India regulatory bodies, financial service providers and business also gave us the benefit of their expertise during the visit.

Mr. Ernie Almonte, Chairman, AICPA visited India from June 30, 2009 to July 04, 2009 to deliver a Keynote Address at the ICAI Diamond Jubilee International Conference in Agra. Coinciding with the visit, meetings with C& AG, CGA, Ministry of Finance and Ministry of Corporate Affairs also took place. During the course of meeting, steps to initiate bilateral talks between two countries were also initiated.

A delegation from the Canadian Institute of Chartered Accountants led by CA Jylan Khalil, Director of CA Qualification along with CA Paule Massicotte, Principal of CA Qualification had visited ICAI to discuss in detail, the possibilities of reciprocal recognition agreement of professional qualification between both the Institutes.

Mr. Lyle Handfield, Vice–president, International and Corporate Affairs and Mr. Baldev Vice-president, Finance and Administration, Certified General Accountants Association (CGA) of Canada visited ICAI to discuss the bilateral talks between ICAI and CGA Canada for entering into a Mutual Recognition Agreement.

Subsequent to the visit of Mongolian delegation from the Mongolian Institute of CPAs in April 2008; the ICAI provided English and IFRS training to Mongolian Accountants commencing from 06th November’08 for three months, for which Ambassador of India at Mongolia had requested ICAI. Two more such batches would be undertaken in future.

Mr. Paul Boyle, Chief Executive of the UK's FRC met CA. Ved Jain, President, ICAI, CA. Uttam Prakash Agarwal, Vice President, ICAI and Shri T Karthikeyan, Director and Acting Secretary, ICAI on 7th November 2008 and discussed the role being played by FRC in the regulation of Accountancy profession. The two sides attempted to understand the regulatory environment at either end. FRC also shared its perspective on the global regulation of the accounting profession. FRC informed that its overall objective is to promote confidence in corporate reporting and governance and its priorities are accordingly set up in the said direction.

NIRC of the ICAI invites you to a Keynote Address by Mr. Fermin Del Valle, President, International Federation of Accountants on the theme “Emerging Paradigm of Accountancy Profession” on 1st November’08. Further details shall be available shortly at the Institute’s website www.icai.org.

A two-day meeting of the Indo-UK Task Force on Corporate Governance concluded on 31st October 2008. The Task Force was constituted in 2006 to promote bilateral collaboration between India and UK in areas of mutual interest in corporate matters, including corporate regulation and governance. UK was represented at this 3rd meeting of the Task Force by eight- member British delegation, led by Mr Geoffrey Stanley Dart, Director, Corporate Law and Governance, Department for Business, Enterprise and Regulatory Reform(BERR), Government of UK; while the Indian side was led by Shri Anurag Goel, Secretary, Ministry of Corporate Affairs, Government of India and was attended by CA. Ved Jain , President , ICAI and Shri T Karthikeyan, Director and Acting Secretary , ICAI.

The discussions held by the Group covered various areas including the Limited Liability Partnership Bill, Private versus Public Enforcement of Good Governance in context of Shareholder Activism; and Practical aspects of IFRS implementation. The Task Force also discussed sharing of experience on economic crises and the role of various regulatory and professional institutions in meeting emerging challenges. Specific areas of discussions also on increasing Institution-to-Institution and business-to-business contacts between entities in UK and India. UK agreed to share its experiences on functioning of insolvency practitioners, their licensing, and forming joint intelligence committees. Insolvency Practitioners Association (IPA), UK will help the Society of Insolvency Practitioners in India by hand holding, training of trainers, joint projects and sensitization of creditors.

Lenya Jeremiah M, Examination Officer and Rosemary K A Barasa, Senior Officer Human Resources Management and Administration from Kenya Accountants and Secretaries National Examinations Board (KASNEB) had visited ICAI , New Delhi and met Secretary to consult on the examination matters to be included in their review of the syllabus of ICAI and such other institiutions. The review is aimed at ensuring that the examination syllabuses continue to meetmarket demands and international standards

Shri Shiam Kattapuram,Chairman, Papua New Guinea Chapter had visited ICAI on 29th September 2008 and met President to explore professional cooperation between CPA PNG and ICAI and also possibilities to strengthen ties between CPA PNG and ICAI through the Chapter for the benefit of members in Papua New Guinea.

Mr. Lee Piller and Ms. Marion Bougel from the Committee of European Securities Regulators had visited the Institute on 25th July’08. Shri. Jaikant Singh Director, MCA and Shri R Vasudev DII, MCA also participated in the meeting. The visit was focused on understanding the Accounting Standards in India and to discuss the issues in Convergence with IFRS in India.

The delegation from the Institute of Professional Accountants Samara Region (SIPA), Russia consisting of Mr. Dmitry Yakovenko, President of the Institute of Professional Accountants of Samara Region; Mr. Yury Bodrov, Member of the Board visited ICAI.The possibilities of reciprocal recognition agreement of professional qualification was discussed in detail.

A delegation led by Mr. Alderman David Lewis MA, the Hon Rt. Mayor of the city of London, along with Ian Luder, Sheriff of the city of London, Mr. Martin Hagen, Vice President, ICAEW, Ms. Jane Owen, Director, UK Trade and Investment, Mr. Jeff Glekin, Deputy Head of Mission Mumbai, & Mr. Graham Ward, Chairman, UK side of the Indo UK Accountancy Task Force had visited the ICAI on 21st of April’08.The meeting focused on fostering bilateral relations between Indian and UK Accounting profession. The current status of on going exercise for MRA between ICAI & ICAEW was discussed. It may be mentioned that earlier also, Lord Mayor had visited the Institute on 22nd May’07. The meeting was also attended by Mr. Graham Ward, Past President, IFAC from UK and a couple of officials from British High Commission, Delhi.

Republic of Djibouti through their Consul General Office, Mumbai had requested the ICAI to train their students in Accounting and English speaking. The six-month training is being given to the students in Chandigarh. The arrangement with Djibouti is a step further for the popularizing of Indian Chartered Accountancy profession among Djibouti students and to get a foothold in Djibouti for establishing an Accountancy Institution thereat. It is on no cost basis to ICAI.

The ICAI and the CPA Mongolia had signed a Memorandum of Discussion on Bilateral Cooperation on 11th September’06, for promoting mutual interest & co-operation between the two institutes. Since then, CPA Mongolia has been in touch with ICAI for organizing training program(s) for their Accountants.

On the request of the CPA Mongolia, A second session of training in IFRS was provided by ICAI to their 10 delegates on 3rd & 4th April’08. Previously, a delegation from CPA Mongolia consisting of eight people visited ICAI on 12 & 13 November 2007 and had exposure to the Accounting issues in implementation of IFRS.

A delegation led by Mr. Hubert Reynier, Managing Director of the Regulatory Policy and International Affairs Division, AMF along with Mr. Patrice Aguesse, Head of Regulation of Financial Disclosures and Corporate Financing, AMF and Mr. Patrick Parent, Deputy Head of Corporate Accounting and Auditing Division, AMF had visited the ICAI to interact on the enforcement of accounting standards and auditors oversight in India. Along with Mr. Jitesh Khosla , Joint Secretary , Ministry of Corporate Affairs , Ms. Neelam Bhardwaj, General Manager, Division of issues and Listing, Securities and Exchange Board of India, Mr. Parag Basu, General Manager, Division of issues and Listing , SEBI and Mr. Nitesh Bhati , Manager, Division of issues and Listing, SEBI have also attended the meeting.

A delegation as led by Sir David Tweedie, Chairman, International Accounting Standards Board (IASB) along with Mr. Warren McGregor, Board Member had visited the ICAI. During their visit, they interacted with the Press and had discussed the IFRS convergence program being followed by various countries worldwide. They had also interacted with the members of Chambers of Industry from CII, ASSOCHAM, FICCI and PHD Chambers on the convergence issues . On 27th March 2008, during the Regional Setters meeting at Indian Habitat Centre, the delegates from SAFA member bodies i.e Nepal, Pakistan, Bangladesh and Srilanka had interacted with the IASB Chairman and Board member on the Challenges being faced by these countries while convergence with IFRS .Sir Tweedie and Mr. McGregor had also met Mr. Tarun Bajaj, Joint Secretary (Banking and Insurance) , Ministry of Finance to discuss the government and regulatory framework for the adoption of IFRS in India.

A delegation from the European Commission Internal market led by Mr Pierre Delsaux , Director along with Mr. Jeroen Hooijer, Head of Accounting Unit and Mr. Jurgen Tiedje, Head of Auditing Unit had visited ICAI on 7th March 2008 to discuss on the recent developments in Auditing and Accounting in India and European Union. Mr. Jitesh Khosla , Joint Secretary , MCA also participated in the meeting . Mr. Alexander Spachin, Deputy Head of Delegation and Ms. Sanchita Chatterjee, Economic Advisor from Trade & Economic Affairs Section ,European Union ,Delegation of the European Commission to India, Bhutan and Nepal, New Delhi also attended the meeting. During the course of the meeting, the detailed plan of European Commission in relation to the steps taken by them for the full convergence to IFRS including the new standards were highlighted.

A delegation led by Mr. Hiroshi Endo, Managing Director of the Financial Accounting Standards Foundation (FASF) along with Mr. Takehiro Arai, Board Member of the Accounting Standards Board of Japan (ASBJ) and Mr. Kazuhiro Shimada, Accounting Standards Board of Japan (ASBJ) had visited the ICAI on 5th March 2008 at ICAI Bhawan, New Delhi to exchange their views and discuss on the joint approach to be adopted by Japan and India as both countries have agreed for Convergence of their Accounting Standards to IFRS by 2011. For Further details please click on the given link: http://icai.org/post.html?post_id=1912&c_id=238

Mr. Jens Roder, President, The Institute of State Authorised Public Accountants in Denmark (FSR) had visited ICAI on 13th February. During the course of the interactions, they exchanged their views on standards of professionalism and the recent developments in the area of the accounting and auditing profession in India and Denmark and how the members of two Institutes can come closer.

A delegation of French accounting profession lead by Mr. Jean Pierre ALIX and Mr. Vincent Baillot President(s) of CSOEC & CNCC, France had detailed interaction with the ICAI to discuss measures required to facilitate movement of accountants and accountancy services in the wake of globalization between the two countries and also to adopt a joint stand on emerging issues in regard to international standards on accounting and auditing during their visit to New Delhi on 11th-12th February , 2008. The delegation also included Mr. Jacques Potdevin, President of FEE, a regional accounting body in the Europe and Mr. Rene Ricol, Past President of IFAC and President French Investment Group. The delegation had interactive meetings with Reserve Bank of India, Stock Exchange Board of India, Comptroller & Auditor General of India, Controller General of Accounts and Competition Commission of India. For Further details please click on the given link: http://icai.org/post.html?post_id=1917&c_id=238

Delegation led by the Deputy Auditor General of the Republic of Afghanisthan visited the Institute on 23rd January, 2008 for ICAI’s possible role in technical cooperation for building up an Accounting Institute thereat and providing training to stakeholders. In furtherance, another delegation comprising Prof. Mohammad Sharif Sharifi, Auditor General, Control and Audit Office Afghanistan had visited ICAI on 1st February 2008 and sought support from ICAI for institutionalization of accounting profession. He was accompanied by Shri Satyamurty , Past Government Nominee from CAG and on ICAI Council.

Mr. Graham Ward, Past President, IFAC and Past President of the Institute of Chartered Accountants of England and Wales called on ICAI in connection with the on going MRA exercise with the Institute of Chartered Accountants of England and Wales, UK.

Mr Steve Vieweg visited the ICAI to carry forward the dialogue of Recognition to ICAI members in Canada and had taken inputs from ICAI as regards the course curriculum and had agreed to share the inputs of the technical evaluation.

The delegation comprised Li Kouqing, Vice-President, Shanghai National Accounting Institute, Ge Zhihao, Personnel & Education Department, Ministry of Finance of China, Xue Xuhong, Teacher, Shanghai National Accounting Institute, Wang Shuangyan, Teacher, Shanghai National Accounting Institute, Wang Xin, Teacher.,Shanghai National Accounting Institute, Yao Fan, Teacher, Shanghai National Accounting Institute and visited the ICAI on 18th December 2007. Their visit was focused on understanding the educational system of accounting and auditing at either end.

Delegation from National Accountants Certification Centre (NACC) visited ICAI on 29th November 2007. The meeting focussed to facilitate bilateral cooperation by identifying areas of common interest to work together and enhance the relationship. The Delegation also visited Kolkatta office of ICAI and had interaction with EIRC of ICAI.