The Institute of Chartered Accountants of Sri Lanka (ICASL) this week signed a memorandum of understanding (MOU) with UK-based Institute of Chartered Accountants of England and Wales which offers ICASL members the opportunity to register with the ICAEW for a one-time fee of 165 UK pounds, or approximately Rs. 29,000, until the end of this year.
This is after an exemption of 840 UK pounds was allowed by the ICAEW. It was also revealed that this MOU would additionally allow for mutual recognition of qualifications by both bodies. Additionally, according to ICASL officials, this MOU facilitates greater international mobility for 4,000 ICASL members. Also noted was that 80% of ICASL members worked outside of the accounting profession and that around 1,000 lived and worked overseas. (JH)