ICAI To Set Up First EU Chapter At Amsterdam

Institute of Chartered Accountants of India (ICAI) plans to set up its first European chapter at Amsterdam in the Netherlands. India’s national accounting and finance professional body, which is the world’s second largest after American Institute of Certified Public Accountants at present, has already received the approval for the regional chapter from its apex council in India recently after a rigorous procedure.

“One of ICAI's criterion to set up international chapter is to have written support of minimum 20 Chartered Accountants (members of ICAI) based in the respective country. And the approval had to go through the motion with the council of ICAI as well,” said Vikas Chaturvedi, partner of Asia of Athos Group and Chairman of ASSOCHAM Europe (Netherlands). Chaturvedi will be heading the EU chapter at the Netherlands as chairman.

“Official launch of the ICAI chapter at Amsterdam will take place on 1st June at World Trade Center. The event will be inaugurated by CA Nilesh S Vikamsey, President of ICAI and Vice Mayor of Amsterdam,” Chaturvedi confirmed in a telephone interview.

“This is significant development since it will be the first presence of ICAI in the European Union,” he added.

According to Chaturvedi, this set up will further enhance the brand building of CA profession in Europe, create network and job opportunities for CA's and boost bilateral business between India and Europe and in particular between India and the Netherlands.

“This set up will further boost India-Netherlands business relationship, as this country has now emerged as the new business gateway to Europe, post Brexit and certain political uncertainties in Germany and other European hubs,” said Chaturvedi, who is also an advisor to various corporates and government bodies involved in India-EU business and trade for at least a decade.