Nicosia, Cyprus. The Institute of Certified Public Accountants of Cyprus (Selk) has signed a Memorandum of Understanding with the Institute of Chartered Accountants of India (ICAI) to strengthen professional and business ties between Cyprus and India. The agreement was signed during President Nikos Christodoulides’ recent official visit to India.
Agreement signed during official visit
According to an announcement released this week, the memorandum is intended to deepen cooperation between the two countries in accounting, auditing, professional education and business services.
The memorandum was signed in India by Chrysilios Pelekanos, president of the Cyprus-India Business Association, who had been authorised by Selk president Odysseas Christodoulou to sign on behalf of the association as part of the official Cypriot mission.
Areas of cooperation
Selk said the agreement creates a broader framework for cooperation in areas of common interest, including the exchange of know-how and best practices, continuing professional training, joint educational and professional initiatives, conferences and institutional actions.
The two organisations are also expected to work together to strengthen the quality, visibility and international recognition of the accounting and auditing profession.
Institutional ties
The ICAI is the statutory body for chartered accountants in India and is regarded as one of the largest and most influential professional accounting bodies internationally.
During the visit, a meeting was also held with India’s High Commissioner, Manish Manish, which Selk said confirmed the strong level of relations between Cyprus and India, as well as the prospects for further professional and business cooperation.
Selk said the signing of the memorandum fits into its ongoing strategy to expand its international presence and support Cyprus’ position as a reliable and competitive centre for professional services.
