The New Zealand Institute of Chartered Accountants (NZICA) and the Institute of Chartered Accountants Australia (ICAA) have commenced a consultation process with their respective members with a proposal to establish a new Trans-Tasman Institute of Chartered Accountants.
Wellington based NZICA Chief Executive and President Craig Norgate and Liz Hickey were in Auckland on May 20 to discuss the proposal with local members (accounting for 3486) and stakeholders.
They said that the proposed Trans-Tasman Institute would further boost the Closer Economic Relations (CER) that exist between New Zealand and Australia.
“A single Trans-Tasman Institute will provide a stronger platform for effective competition and connect with the rapidly developing Indian and Asian economies.”
The consultation process, which began in May in both countries, will end on July 12. Following this process, the two Institutes will decide if there is a need for full member vote, which would be held from October 1 to November 1, 2013.
Major milestone
“The announcement (of the proposed Institute) marks a major milestone in the history of NZICA and ICAA as well as their close Trans-Tasman relationship. While we did not orchestrate this proposal to coincide with the 30th anniversary of CER, it is a good reminder that both countries have been collaborating in the interests of better business for many years,” Mr Norgate said.
Ms Hickey said that the proposed Institute will have the scale to significantly improve the educational offering and tools that members regularly access from their Institute.
“It would also enable sharing of knowledge and insight amongst members on both sides of the Tasman,” she said.
Mutual benefit
ICAA President Tim Gullifer said that the members of his Institute (and the businesses they serve) in both countries will benefit from a larger and more sustainable Trans-Tasman Institute with greater scale, increased policy formulation and advocacy capability as well as global influence.
“It will have the critical mass to offer enhanced training, professional development and global business connections. We recognise that the memberships are likely to get increasingly diverse. The timing for the establishment of a New Institute is right. We need to stay ahead and further strengthen the brand and services we offer to members,” he said.
Indian CAs
According to Mr Norgate, about 4.4% of NZICA members are of Indian origin.
“Auckland City has 840 Chartered Accountants of Indian ethnicity. NZICA is keen to encourage Indian CAs and all its members to consider the proposal and provide feedback as they need a vote before it can go ahead,” he said.
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Photo :
1. Craig Norgate
2. Liz Hickey
About NZICA & ICAA
The New Zealand Institute of Chartered Accountants was established in 1908 and accounts for about 33,000 members, including those on provisional membership. Of these, about 3500 are based in Auckland. The Institute generates annual revenue of A$ 27.08 million and has a staff strength of 168. Website: http://nzica.com
ICAA was established in 1928. It has 60,000 members including affiliates and earns annually about A$ 88.53 million. It employs 400 staff.
Website: http://charteredaccountants.com.au
