New Delhi

Union Cabinet on Tuesday approved various pacts that have been signed by the cost accountants' and companies secretaries' institutes with foreign organisations.

Ex-post facto approval has been given for memorandums of understanding (MoUs) entered into by the Institute of Cost Accountants of India (ICoAl) and Institute of Company Secretaries of India (ICSI) with foreign countries/organizations, an official release said.

The MoUs seek to facilitate mutual recognition of qualifications and range of collaborative activities for exchange of knowledge, experience sharing and technical cooperation, among others.

ICoAl and ICSI have signed MoUs with foreign organisations namely Institute of Public Accountants (IPA), Australia, Chartered Institute for Securities and Investment, UK (CISI) and Chartered Institute of Public Finance and Accountancy (CIPFA), UK.

They have also inked such pacts with Institute of Certified Management Accountants, Sri Lanka and Institute of Chartered Secretaries and Administrators (ICSA), UK, it added.

"The signed MoUs would help in advancement of the goals on equity, public accountability and innovation among the beneficiaries countries," the release said.

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