Export of Accounting Services: ICAI invites suggestions from Chartered Accountants

Export of Accounting Services - ICAI - Chartered Accountants - Taxscan

The Institute of Chartered Accountants of India (ICAI) has invited comments and suggestions from the members for issues and concerns regarding the Accounting Process Outsourcing Services from abroad.

Recently, the Government of India had declared Accounting and Finance services sector as one of the 12 Champion sectors. The Institute of Chartered Accountants of India (ICAI) through the Committee for Development of International Trade, Services & WTO (CDITSWTO) has been working towards formulating & implementing an Action Plan for this Champion Sector under the guidance of Nodal Ministries of Government of India.

The Committee is taking various measures & initiatives to supplement Government of India’s impetus on increasing the share of trade in accountancy & related services being identified as Champion Sector and also bringing panorama of opportunities for the Indian CAs in the WTO regime.

In a statement released on Thursday, the Institute said that “it is an accepted fact that Indian Chartered Accountants are very much capable of providing quality services to international clients, and many of our members have established their footprints well in global market. Also, Indian accounting market has grown over time, which is evident with the increase in outsourcing services being provided by Indian professionals.”

The Institute further issued a questionnaire for the members which addresses the issues in connection with the barriers and challenges while providing their services in global market.

“It has been observed and brought to our notice that our Chartered Accountants as professional service providers face lot of barriers and challenges while providing their services in global market. In order to reduce those barriers and open more opportunities to our members, we need your inputs and suggestions so that ICAI can facilitate export of professional services. You can do so by filling the questionnaire form by clicking here,” it added.

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