Members of the Institute of Chartered Accountants Australia (ICAA) and the New Zealand Institute of Chartered Accountants (NZICA) have voted in favour of a merger of the two professional bodies into a single Trans-Tasman institute.
About 78% of ICAA members and 70% of NZICA members voted in favour of the proposal. For ICAA participation rate was 62% and for NZICA 58%.
NZICA board chair Graham Crombie said: "The voter turnout is very high and exceeded what we’d hoped for – it provides a clear mandate for change."
Crombie added that this proposal had been in the making for two years and that he was pleased that members on both sides of the Tasman have seen the benefits of the merger.
ICAA president and board chair Tim Gullifer said the new institute will give the profession "the scale and strength we need on the world stage" and that it "will sit comfortably alongside the other pre-eminent bodies on the world stage – AICPA in the United States, ICAEW in the United Kingdom and the recently formed CICPA in Canada."
He added that this was a courageous and unprecedented move as no other professional bodies around the world have ever joined across borders to better serve their members.
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The merger is subject to necessary changes to the NZICA Act and Royal Carter in Australia, which are expected to be completed by April next year.