Vishakhapatnam, The Institute of Cost and Works Accountants of India (ICWAI) said it had entered into an MOU with the Insititute of Management Accountants(IMA), US, to enable mutual recognition and cooperation between the two institutes and benefit their members in the pursuit of excellence in education and training.

Speaking at Professional members and students seminar , ICWA vice president A S Durga Prasad said the MoU will bring mutual recognition and global cooperation between members of ICWAI and IMA.

Mr Prasad said the MoU will enable recognition of the professional qualifications of the respective institutes. The members of ICWAI would be enrolled as members of IMA and vice versa.

However, an IMA member enrolling as a member of ICWAI will not be allowed to hold a certificate of practice to undertake any statutory work in India.