The Institute of Chartered Accountants in
Australia (ICAA) and the New Zealand Institute of Chartered
Accountants (NZICA) have teamed up to create a joint professional
designation for accountants within the Asia-Pacific region.

As part of the alliance, the ICAA and the
NZICA will focus on four key areas:

  • The Chartered Accountants Program;
  • Further development of member products and
    services;
  • Joint marketing activities; and,
  • Shared IT systems to provide new or enhanced
    online member services and benefits.

A governance board has been established to
oversee the partnership. It consists of ICAA president Michael
Spinks, ICAA chief executive Graham Meyer, NZICA chairman Graham
Crombie, NZICA chief executive Terry McLaughlin and board members
from each institute.

McLaughlin said the NZICA recognises it is in
New Zealand’s best interests to be aligned with Australia.

“Our governments are presently working towards
creating a single economic market, including regulatory
harmonisation,” McLaughlin explained.

“The accounting standards boards have
announced steps towards the convergence of accounting standards.
All these initiatives aim to develop a low-cost, innovative and
more seamless trans-Tasman operating environment for businesses,
which we believe can extend through to our members.

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By GlobalData

 “Many of the larger accounting firms and
corporates are also increasingly viewing the trans-Tasman
environment as one market.”