MOU with West Bengal State Rural Livelihood Mission (WBSRLM) on “Community Audit”
In India, Self Help Groups or SHGs represent a unique approach to financial intermediation. The approach combines access to low-cost financial services involving a process of self management, with an objective of social and economic development for the women SHG members. Formations of SHGs are facilitated by the Government or by NGOs. SHGs are linked not only to banks but also to wider development programmes, SHGs are seen to confer many benefits, both economic and social. SHGs encourage women to save and to access the credit which banks are increasingly willing to lend. SHGs can also be community platforms from which women encouraged to become socially active specially with regard to issues affecting their daily life. There are around 4.5 lac SHGs at present in W.B. under 3349 Gram Panchayats. A huge amount of fund is being mobilized through these SHGs. It is felt that proper monitoring and auditing of accounts on regular basis will help these organizations to work in transparent manner nurturing their relationship of trust and interdependency amongst themselves. As expert accounting professionals are hardly available at Gram Panchayat level, the need of the hour is “Community Audit” and it is necessary to develop sufficient number of “Community Auditors” for the sake of financial transparency.

At this outset, ICAI-CMA & WBSRLM have entered into a MOU to enable undertaking of various collaborative activities for establishing “Community Audit” system for Self Help Groups in West Bengal by developing sufficient number of quality “Community Auditors” for meeting the audit needs of SHGs in the state.

Objectives of the MOU
  • To create a pool of certified candidates as community auditors for SHGs for bringing about financial transparency.
  • To conduct seminars/workshops for awareness building on the importance of audit in campaign mode and to facilitate the master trainers and progress of the project
  • To conduct research study and survey on the SHGs to find out the problem areas the ways to resolve them followed by publications
MOU with National Skill Development Agency (NSDA)
The economic development of a Nation largely depends on its industrial development. The industrial development is based on the entrepreneurial competencies of the people. Hence, the concept of building entrepreneurship promotion is need of the hour. The jobless scenario can be solved through skill and entrepreneurship development. At the same time, India is now enjoying demographic dividend of huge untapped young manpower. They should be mobilized and converted into effective human resource through proper skill development pan India basis to reap the benefit of the situation for overall economic and sustainable growth of the nation.

At this outset, ICAI-CMA & NSDA have entered into a MOU to enable offering various collaborative activities to promote and encourage entrepreneurship and skill development activities in India.

Salient Features of the MOU:
  • To promote entrepreneurship and skill development activities for creating self-employment through enterprise creation pan India basis with increased participation of youth, women, disabled and other disadvantaged sections and thus narrowing down the gap between employment and unemployment position of the nation
  • To facilitate creation of training/ workshop/ seminar infrastructure up to implementation phase for the budding entrepreneurs through networking amongst Colleges/Universities/Institutes/other interested parties
  • To groom and train budding Entrepreneurs through vibrant Entrepreneurship and Skill Development Programme mainly in the MSME Sector throughout India
  • To contribute significantly to the overall skill development target of the country, reduce skill gap in the target sectors which will result in employment generation leading to positive growth in the GDP of the country
  • To inculcate the spirit of 'Entrepreneurship' in youth and promoting micro enterprises at rural level
  • To develop and disseminate innovative knowledge and insights in entrepreneurial theory and practice through research and publications
Memorandum of Understanding (MoU) between Entrepreneurship Development Institute of India (EDI) and The Institute of Cost Accountants of India (ICAI)

Entrepreneurship Development Institute of India (EDI), an autonomous and not-for-profit Institution, set up in 1983, is sponsored by the apex financial Institutions in India namely IDBI Bank Ltd, IFCI Ltd, ICICI Ltd and State Bank of India (SBI).The Institute is engaged in Entrepreneurship education, research & training. The potential activities for collaboration for promoting the cause of Entrepreneurship and Skill development through education, teaching, training, research, publications and knowledge generation, conducting workshops, seminars and managing MSME development projects. The exact nature of collaboration for individual projects, programmes and activities will be further agreed upon time to time by both the Parties. Under the aegis of this agreement, EDI & ICAI shall jointly work on projects, programmes and activities which would take place in India or outside.

Salient Features of the MOU:
  1. shall jointly promote Entrepreneurship & Skill development amongst academia, educational institutions and centers of higher learning.
  2. shall jointly execute different kinds of research studies, training, workshop, seminars and capacity development programmes in the domain of new enterprise creation, capacity building of existing enterprises.
  3. shall jointly implement Cluster and MSME Development activities in India. Both the Parties would work on promoting Innovation and Incubation Centres.
  4. shall jointly act to identify projects, formulate proposals, negotiate with sponsors and implement projects as per the condition evolve at the time of execution.
  5. shall act jointly to conduct research and disseminate information through publications and seminars as per mutually agreed terms and conditions.
  6. collaborative research outcomes/ publications/ working papers will be made available to official Website, Journal, publications and other medium of both EDI and ICAI.

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