Addressing the ICAI Oceania conference on Friday, Commerce Minister Piyush Goyal called on India and Australia to ‘deepen mutual recognition agreements’ between their accounting bodies so that Chartered Accountants can move seamlessly for audits, M&A work and compliance consulting. The push comes as the two countries negotiate the services chapter of their Comprehensive Economic Partnership Agreement. India’s Institute of Chartered Accountants (ICAI) already has limited reciprocity with CPA Australia, but practitioners still need case-by-case assessments. Goyal wants a blanket protocol similar to the UK-ICAI deal that came into effect last year, which grants dual membership after a short bridge course. For global-mobility teams this could be game-changing: Australian firms would be able to hire Indian CAs on intra-company transfer visas without lengthy skills assessments, while Indian consultancies could second staff to Australia on short notice to service mining, infrastructure and renewables clients. The minister also highlighted student pathways created under the 2023 Australia-India Migration and Mobility Partnership Arrangement (MMPA), noting that a stronger professional-qualification MRA would complement the new 1,000-place work-holiday pilot for Indian graduates. Negotiators aim to seal the recognition deal before the next CEPA round in November. Companies are advised to map their upcoming audit and advisory projects in Australia and identify talent that could benefit from a fast-tracked CA licence once the agreement is signed.
Source: The Economic Times
