ICWAI in pact with Russian body

New Delhi: The Institute of Cost and Works Accountants of India (ICWAI) signed a Memorandum of Understanding with Institute of Professional Accountants and Auditors of Russia (IPAR) in Moscow. The MoU between the two accounting bodies is expected to bolster cooperation between the two countries, both of which are constituents of the BRIC and G-20 nations, according to a release. Looking forward to long- term cooperation in business accounting, management accounting and related auditing in both countries, Mr B.M. Sharma, President, ICWAI, said that both parties had agreed to develop joint research and development projects and promote research in work practices of accounting community of both the countries. Both the parties will now work towards mutual recognition of membership and cooperation in international forums like AFAC.