Bill’s passage positive for trans-Tasman Accountants

Bill’s passage positive for trans-Tasman Chartered Accountants

The Accounting Infrastructure Reform Bill (AIRB) passed its third reading today paving the way for Chartered Accountants Australia and New Zealand to officially amalgamate.

Lee White FCA, CEO Chartered Accountants Australia and New Zealand welcomed the Bill’s progress through Parliament.

“This marks a significant milestone as New Zealand’s Parliament has given the green light to the formal amalgamation of the New Zealand Institute of Chartered Accountants and the Institute of Chartered Accountants Australia.”

A key part of the Bill is an amendment to the NZICA Act 1996 which allows the two organisations to formally establish the new trans–Tasman professional body.

“It is very exciting that Chartered Accountants Australia and New Zealand can now focus solely on delivering tangible benefits to members on both sides of the Tasman,” said Mr White.

The Accounting Infrastructure Reform Bill was guided through the house by the Ministers of Commerce, Craig Foss and Paul Goldsmith, and continues the changes begun by the Financial Markets Conduct Act 2013 and the Financial Reporting Act 2013.

New Zealand Country Head, Kirsten Patterson, expressed her thanks to the Ministers, Members of Parliament and departmental officials who have been working behind the scenes for several years to make these changes a reality.

“We greatly appreciate the cross party support afforded the AIRB and the efforts made to pass this legislation.”

Once the Bill receives the Royal Assent in New Zealand and becomes law several further steps can be taken to formally complete the amalgamation process. This is expected to occur during the coming months.

ENDS

© Scoop Media