ICAI to Certify India’s Gold Industry: Six Lakh Partners Await Accreditation
The Institute of Chartered Accountants of India (ICAI) has joined hands with the Indian Association of Gold Excellence and Standards (IAGES) to revolutionise the gold industry’s value chain. A significant Memorandum of Understanding (MoU) was signed, paving the way for a robust accreditation framework.
This initiative aims to bring transparency and accountability to an industry involving an estimated six lakh partners across the nation. The ICAI’s expertise in auditing and financial management will be crucial in establishing credibility.
The new accreditation system will likely involve rigorous audits and adherence to strict standards, ensuring better quality control and consumer protection. This move is expected to boost investor confidence and enhance India’s global standing in the gold market.
The collaboration between ICAI and IAGES signifies a proactive step towards formalising a largely informal sector. The impact on employment and economic growth within the gold industry will be significant, potentially attracting further foreign investment.
