ICAI, Singapore accounting body ISCA discuss Chartered Accountant mobility and AI readiness
ICAI ISCA Agreement 2026: The Institute of Chartered Accountants of India (ICAI) and the Institute of Singapore Chartered Accountants (ISCA) have exchanged letters to work towards a full Mutual Recognition Agreement (MRA) and explore cooperation on Artificial Intelligence capability building for the accounting profession.The letters were exchanged by the presidents of the two institutes on August 21, 2026. The move follows institutional engagement between ICAI and ISCA that has been underway since 2023. Both initiatives are at the development stage, with their scope and structure to be decided jointly.ICAI ISCA professional recognition planISCA added the ICAI qualification to its Recognised Professional Qualifications list in February 2023. The move enabled eligible Indian Chartered Accountants in Singapore to become ISCA Associate Members.The latest letter records the intention of both institutes to work towards a full MRA. The proposed framework would provide broader reciprocal recognition of professional membership between the two organisations.ICAI has more than 4.67 lakh members and currently has eight Qualification Reciprocity Agreements or MRAs and 16 MoUs with overseas professional bodies.The proposed MRA is separate from the existing recognition arrangement and remains subject to further discussions between the two institutes.
ICAI ISCA discuss professional recognition and Artificial Intelligence capability building
AI capability building also under discussionICAI and ISCA have identified Artificial Intelligence as a second area for potential cooperation.ICAI said it has trained more than 50,000 members in Artificial Intelligence, developed more than 150 GPT-based tools and introduced a three-level AICA certification programme. ICAI also signed an MoU with Sarvam AI at AIS 2026.ISCA has an AI Fluency Programme. The two institutes intend to explore working-level cooperation to examine how their respective AI initiatives can complement each other.Two areas of institutional cooperationThe proposed MRA and AI collaboration represent separate areas of discussion between ICAI and ISCA. The professional recognition initiative focuses on qualifications and membership recognition, while the AI initiative concerns capability building, knowledge sharing and professional development.ICAI President CA. Prasanna Kumar D said the proposed MRA could enhance professional opportunities and recognition for Indian Chartered Accountants, including members based in Singapore. He also highlighted cooperation on AI capability building.ICAI Vice-President CA. Mangesh Kinare said the MRA discussions follow years of engagement between the institutes. CA. Sanjay Gattani, Chairman of the ICAI Singapore Chapter, said the proposed agreement could support greater cross-border cooperation.Further discussions will determine the scope and structure of both initiatives. No final MRA or formal AI cooperation framework has been announced through the August 21 exchange of letters.
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