ICAS signs memorandum with Romania

The Institute of Chartered Accountants of Scotland has moved one step closer to ensuring co-operation between itself and Romania’s accountancy body, having signed a Memorandum of Understanding.

Anton Colella, chief executive of ICAS, and professor Ion Mihailescu, the president of the Chamber of Financial Auditors of Romania, signed the agreement in a move that marked the 10th anniversary of the latter.

The two will now share their expertise in accountancy, audit and education development. The move comes at a time when the accounting world is working towards unified global accounting standards.

‘The accounting profession is increasingly a global profession and strong European institutes are vital to ensuring that investors, wherever they are, can have confidence in the financial information that they use. Sharing experience can only help us improve this,’ said Colella.