Collaboration Forms Asia-Pacific Accountancy Bloc

Collaboration Creates Powerful Asia-Pacific Accountancy Bloc

1 September 2010 – A new collaboration between the New Zealand Institute of Chartered Accountants (NZICA) and the Institute of Chartered Accountants in Australia (ICAA) will create a powerful alliance between the two organisations and cement the chartered accountant qualification as the foremost professional designation for accountants within the Asia-Pacific region.

A governance board has been established to oversee the collaboration comprising the ICAA president, the NZICA chairman, board directors from each institute and the two chief executives.

NZICA chief executive Terry McLaughlin said the new alliance with ICAA recognises that New Zealand’s economic development will be strengthened by working closely with Australia.

“It is widely known that it is in our best interests to be aligned with Australia. Our governments are presently working towards creating a single economic market, including regulatory harmonisation. 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.”

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

Commenting on the collaboration, ICAA chief executive officer Graham Meyer says, “The aims of the collaboration are to strengthen the leadership of the chartered accountancy profession into the future and provide greater value to members on both sides of the Tasman.”

“Many of our members are chief executives, chief financial officers and business advisers for organisations operating within the Asia-Pacific region. This collaboration brings the institutes even closer together to support the increasing globalisation of the chartered accountancy profession.”

Both NZICA and ICAA are members of the Global Accounting Alliance.

The collaboration initially focuses on four key areas: collaborating on the Chartered Accountants Program; further development of member products and services; joint marketing activities; and shared Information Technology systems to provide new or enhanced online member services and benefits.

ENDS

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